Lakeland Dairies has held its base milk price at 32.78 cents per litre including VAT for August milk supplies.
While milk powder prices have improved, butter prices have weakened significantly in the past month.
Recognising the difficult conditions experienced by dairy farmers as a result of the extended period of very dry weather during the Summer, last month Lakeland introduced a €20 per tonne discount on every tonne of fertiliser bought by milk suppliers and shareholders, effective from August 1.
This €20 per tonne discount will continue to apply until the end of the fertiliser spread season. The co-operative has reported strong take-up of the measure where dairy farmers are taking the opportunity to grow more grass during the current reasonable weather conditions.
Lakeland is also surveying dairy farmers to identify fodder stocks and requirements and to assist with overall planning for Winter fodder supplies.
Lakeland Dairies said that it will continue to pay the highest possible milk price in line with market conditions.