Dairygold announces reduced milk prices for second month in a row

FOR the second month in succession Dairygold has announced a reduction in its base price for milk supplies.

The cooperative has confirmed that its base price for August, based on standard constituents of 3.3 per cent protein and 3.6 per cent butter fat (inclusive of VAT and bonuses) is 28.69 cents per litre (cpl).

This represents a 1 cpl reduction on the July base price of 29.69, which in turn was a similar reduction on its price for both May and June.

In a statement the Dairygold board said dairy markets continued to be ‘challenging”, with recent butter returns principally being the significant influencing factor.

“Regrettably, a downward milk price adjustment is necessary,” read the statement.

“The Dairygold Board will continue to monitor market developments and remains focused with regard to maximising the commercial return and ensuring operational efficiency,” it concluded.