Carbery has today (Wednesday, July 19) become the latest processor to announce its milk price for June supplies.

The processor has reduced its base milk price for June by 1c/L.

In a statement, Carbery said it is continuing to support the milk price from its stability fund and is allocating a 3c/L support for June milk.

If this decision is replicated across the four west Cork co-ops of Bandon, Barryroe, Drinagh and Lisavaird, this will result in an average price of 40.2c/L, including VAT and 0.5c/L somatic cell count bonus.

"Dairy markets performance and in particular the slow demand recovery to date continue to be of concern," a spokesperson for Carbery stated.

Meanwhile, Dairygold cut its milk price by 2c/L to 38c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and VAT.

Earlier this week, Kerry Group confirmed that its milk price for June supplies would remain unchanged from the previous month at 37c/L.

Lakeland Dairies will pay a price of 37.35c/L for milk at 3.6% butterfat and 3.3% protein in the Republic of Ireland. This price is unchanged from the May price.

The Global Dairy Trade (GDT) price index declined by 1% to 959 at the latest trading event yesterday (Tuesday, July 18).

On average, bidders paid $3,289/MT for products offered at the 336th event, which saw a total of 25,956MT being sold.

Available data shows that of products offered, only anhydrous milk fat (AMF) saw an increase in the price index. At $4,745/MT, the index for AMF rose by 3.4%.

The most significant decrease was recorded in the price index for cheddar, which dropped by 10.1% to $3,955/MT.