Carbery has today (Friday, February 16), become the latest processor to announce its milk price for January supplies.
The processor increased its base milk price by 1c/L, and is also continuing to support the milk price from its Stability Fund with a contribution of 2c/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 40.05c/L.
This price is inclusive of VAT, 0.5c/L Somatic Cell Count (SCC) bonus, FutureProof sustainability bonus and Stability Fund support.
Carbery
A Carbery spokesperson said: “Dairy markets are beginning to find balance after the turbulence of [2023] and with global milk supplies decreasing.
“Forecasts remain unpredictable on the demand side, so we will continue to monitor markets closely to determine future pricing.”
The Carbery FutureProof sustainability bonus payment for qualifying suppliers was paid with the December milk payment, representing a maximum of 1c/L for suppliers who met all criteria.
The processor said it is “very pleased” with the uptake and activities undertaken by their farmer suppliers as part of FutureProof, which continue to advance sustainability objectives.
The FutureProof sustainability bonus will be available in 2024 to all suppliers who meet the sustainability criteria, according to the processor.
Milk price
Meanwhile, Dairygold confirmed that it will increase its quoted milk price by 1c/L to 38c/L for January milk, based on standard constituents of 3.3% protein and 3.6% butterfat.
This includes sustainability and quality bonuses and VAT. The January early calving bonus of 3.14c/L, including VAT, will be paid on milk supplied in January in accordance with Milk Quality Criteria.
The processor said that this will increase the attainable Dairygold milk price to 41.14c/L, at standard constituents.
A base price of 38.90c/L based on constituents of 3.6% butterfat and 3.3% protein, will be paid by Lakeland Dairies for January milk in the Republic of Ireland.
The base price has increased by 1.75c/L since the previous month, including the new 0.5c/L Sustainability Incentive Payment.