The Lakeland Dairies board has agreed the price for milk for July.
A price of 48.25c/L (3.6% butterfat and 3.3% protein) will be paid for July milk in the Republic of Ireland (ROI) which is inclusive of the 0.5c/L Sustainability Incentive Payment.
This is a reduction of 1c/L on the price paid in June.
In Northern Ireland (NI), a price of 39.3p/L will be paid for supplies in July which is also inclusive of the Sustainability Incentive Payment. This is a reduction of 1p/L on the price paid in June.
The processor has stated that market prices have declined over the last three to four weeks, driven by a steady increase in global milk supplies and softening demand amid ongoing trade and geopolitical tensions.
“Lakeland Dairies will continue to monitor the markets and will endeavour to support our farmers with the best milk price possible in line with market conditions,” the company said in a statement to Agriland.
Milk markets
Last week, the Global Dairy Trade (GDT) index saw a second increase in a row, after four consecutive decreases throughout May and June.
After the latest trading event on Tuesday, August 5, the index increased by 0.7%, following on from an increase of 1.1% on July 15.
The increase on July 15 followed on from four consecutive decreases between May 20 and Jul 1, which ranged from 0.9% to 4.1%.
The index stands at 1,268. This compares to a 2025 high of 1,344 on May 6.
The May 6 figure was the highest GDT index since June 2022. The largest increase was noted for whole milk powder (WMP), which increased by 2.1%, reflecting an average price of €3,469/mt.