The board of Town of Monaghan (TMC) decided to hold its milk price at 26.25c/litre in the Republic of Ireland and 17.5p/litre in Northern Ireland on Wednesday.

TMC had cut its price by 0.75c/litre in the Republic and 0.5p/litre in the North last month.

The mood was reported to be good at the board meeting.

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All major milk processors have now set their September milk price, with Glanbia the only one applying a cut of 1c/litre.