Processors confirm June milk prices
Dairygold has increased its milk price by 0.5cpl
Most processors have decided to hold their quoted prices except for Dairygold, which is increasing by 0.5cpl.
Lakeland Dairies’ Board has agreed to hold its price for milk for June.
A base price of 37.5cpl (3.6% butterfat and 3.3% protein) will be paid for June milk, which is inclusive of the 0.5cpl Sustainability Incentive Payment. This is unchanged from the price paid in May.
The co-operative has also announced it will pay a market support payment of 0.6cpl on all milk supplied from January to June, adjusted for milk constituents.
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Speaking on behalf of the co-op, a spokesperson said: “Global dairy markets remain relatively unchanged since last month. Supply remains strong, but positively, we are starting to see some early signs of a slowdown in milk production across the globe.”
The Kinisla milk price for June milk supplies is 38cpl (VAT inclusive), including quality and sustainability bonuses.
At EU Standard Constituents 3.40% protein and 4.20% butterfat, this equates to 1.63cpl (VAT inclusive).
Based on Kinisla’s average milk solids for June, the milk price return, inclusive of VAT, quality and sustainability bonuses, is 41.01cpl.
“Commodity prices are currently broadly stable. Exceptionally high temperatures across Europe are providing some support to the market, with concerns over the potential impact on milk production helping to offset reports of elevated product stocks,” a spokesperson explained.
In line with its previously announced three-month milk price commitment, Tirlán will pay suppliers 38.08cpl VAT inclusive for June milk supplies.
The actual average price paid by Tirlán for June creamery milk, based on delivered constituents, will be 42.67cpl (including VAT).
The June milk payment consists of the base milk price of 37.58cpl (including VAT) and the Sustainability Action Payment of 0.5cpl (including VAT) to all qualifying suppliers.
The base price and Sustainability Action Payment will reflect the actual constituents of milk delivered by suppliers.
The Dairygold Board has increased the June milk price by 0.5cpl to 38cpl, based on standard constituents of 3.3% Protein and 3.6% Butterfat, inclusive of Sustainability and Quality payments and VAT.
This will equate to an average farm gate milk price of 42.4cpl for the month, based on the average milk solids achieved by Dairygold milk suppliers.
Commenting on the board’s decision, Dairygold chairperson Pat Clancy said: “Global dairy markets remain in a broadly similar position to last month, with supply continuing to outpace demand.
"Dairy stocks are high, particularly of butter, but there are some signs that the pace of milk supply growth is slowing and ongoing strong demand for protein has supported the market.”
