SuperValu, Tesco, Aldi and Lidl have announced they will cut the price of own-brand butter from tomorrow.  

They will each cut the price of a pound of own-brand butter by 40 cents, and other the price of butter products will reduce accordingly.  

Farmers have claimed slashing butter prices on the shelves will threaten the viability of their businesses. 

Cork-based farmer Alan Jagoe said they are already struggling with the lower prices paid for their milk.  

"When the liquid milk fell last Friday, and with butter falling today I don't think it would take a genius to figure out that yoghurt and cheese will follow suit,” he said. 

"Ultimately dairy farmers and our farm families are consumers also and we are living the cost-of-living crisis also.” 

"We are impacted by the cost of living every day on our farms, but this is a detrimental blow to the income of our family farms." 

The move by major supermarkets comes after milk prices were cut last Friday – the first price drop since the cost-of-living crisis began.  

All four chains reduced the price of own-brand two-litre milk by 10 cents. Representatives from each chain said these price cuts aim to alleviate the cost-of-living crisis for consumers.  

The Irish Farmers’ Association previously said income for an average supplier has been cut by €50,000 so far this year. 

IFA National Dairy Committee Chair Stephen Arthur said farmers simply “cannot sustain” further price cuts.   

“Dairy farmers are near breaking point now,” he said. “Cows are housed throughout the country resulting in big drops in milk supplies while feed and fertiliser prices remain at record levels.” 

The IFA said there is a need for the Food Regulator to be established to ensure transparency.

It said margins are being eroded at an alarming rate and the announcements by retailers are further damaging morale.