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The two processors at the bottom of the June monthly milk league have both announced increased milk prices for July.
Dairygold went up 0.5c/l and Lakeland Dairies went up 1c/l. This will bring Dairygold to 29c/l excluding VAT at base solids and Lakeland to 29.5 c/l base. The board of Arrabawn decided to lift the July price by 0.5c/l to take it to 29.41c/l following a 1.5 c/l shift upwards last month.
Kerry announced it will be holding its July base milk price at 28.94c/l. Last week, Glanbia and the west Cork co-ops announced unchanged prices of 28.6c/l and 30.26c/l respectively excluding VAT at base solids.
The latest Global Dairy Trade (GDT) auction held on Tuesday 18 August saw the price index drop by 1.7% from the previous event. The average price now stands at just over $3,000 (€2,522)/t. The New Zealand milk production season will kick off in coming weeks as the European supply falls off into autumn.
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