Carbery has today (Wednesday, March 20) become the latest processor to announce its milk price for February supplies.
The processor increased its base milk price by 2c/L, and is also continuing to support the milk price from its Stability Fund with a contribution of 1.5c/L.
If this decision is replicated across the four west Cork co-ops; Bandon, Barryroe, Drinagh and Lisavaird, this will result in an average price of 41.67c/L.
This milk price for February is inclusive of VAT, 0.5c/L Somatic Cell Count (SCC) bonus, FutureProof sustainability bonus and Stability Fund support.
Carbery
“As dairy markets continue to find equilibrium, recovering from volatility in 2024, prices will begin to stabilise and our milk price is reflecting this.
“We are monitoring markets on an ongoing basis and hope to see this recovery and stabilisation continue,” a Carbery spokesperson said.
The processor launched the second full year of its sustainability bonus, FutureProof, worth a maximum of 1c/L on all milk supplied in 2024.
The FutureProof payment for qualifying suppliers was paid with the December milk payment, representing a maximum of 1c/L for suppliers who met all sustainability criteria.
Carbery said it is “very pleased” with the uptake and activities undertaken by its farmer suppliers as part of FutureProof, and hopes to “see the same great uptake as last year”.
Dairy markets
Meanwhile, the Global Dairy Trade (GDT) price index fell by 2.8% at the latest auction. The index now stands at 1,055 – compared to the previous index figure on March 5, of 1,086.
The sharpest drop in the price index at the event yesterday (Tuesday, March 19) was a 4.8% fall for skim milk powder (SMP) to an average price of $2,517/MT.
The price index for whole milk powder (WMP) fell by 4.2% to an average price of $3,143/MT, and lactose fell by 4.4% to an average price of $778/MT.
Cheddar also dropped by 1.9% to an average price of $4,192/MT, while butter fell by 1.4% to an average price of $6,408/MT.