The board of Dairygold has decided to increase its August milk price by 1c/l. This brings the price to 23.25c/l at 3.3% protein and 3.6% fat, excluding VAT. Earlier this week, other processors also announced an increase in August milk price.

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At an IFA dairy incomes meeting on Wednesday, one farmer asked "why should we borrow money for the pleasure of milking cows?"

Dairy trends: Dairy prices continue to firm but can it be sustained?