New Delhi,July 19, 2018: LacPatrick Dairies has revealed its milk price for June supplies, following a meeting of the board today (Wednesday, July 18).
Suppliers in the Republic of Ireland will receive a base price of 31c/L including VATfor milk supplied in June. This is an increase of 0.75c/l on May supplies.
Meanwhile, suppliers in Northern Ireland will receive a base price of 26.5p/L including VAT for milk supplied in June following a 0.5p/L top-up.
June Prices Elsewhere
Earlier today, Aurivo revealed that its board has agreed to hold its base milk price at 30.5c/L including VAT for June manufacturing milk.
This follows an increase of 0.5c/L in May.
However, a weather bonus of 0.5c/L will also be paid in recognition of difficult weather conditions experienced by farmers in recent weeks – bringing the total milk price for members up to 31c/L including VAT.
The Tipperary-headquartered co-operative increased its price to 32.05c/L including VAT for June milk; up 1c/L from its May price.
Yesterday also saw Dairygold’s board decide to maintain the base price paid for milk supplied in June at 32c/L inclusive of a 0.5c/L quality bonus and VAT, based on standard constituents of 3.3% protein and 3.6% butterfat according to agriland.ie.
GDT Takes Further Dip
The most recent Global Dairy Trade (GDT) auction concluded yesterday (Tuesday, July 17), with the GDT Price Index down a further 1.7%.
This follows a nosedive at the last event two weeks ago, which saw the index take a 5.0% drop.
Lasting two hours and five minutes, the auction saw 168 bidders compete across 15 rounds, with 126 winning participants.
Rennet Casein saw the most significant shift on the day, sustaining a 9.5% decrease, while Butter also took a hefty 8.1% hit.
Anhydrous Milk Fat (AMF) got stung with a considerable 5.2% drop. Product index increases were minimal on the day, with Whole Milk Powder (WMP) up 1.5% and Skim Milk Powder up 0.8%.
Lactose (LAC) was not available on the day, while Sweet Whey Powder (SWP) was also unattainable.