Carbery Group has announced its milk price for January supplies, confirming that its price will be reduced by 4c/L for last month.
If this decision is replicated across the four west Cork co-ops of Bandon, Barryroe, Drinagh and Lisavaird, it will result in an average price for January milk of 52.8c/L, including VAT and a somatic cell count bonus.
Carbery said the decision on this milk price was taken “in view of current dairy market performance”.
The business said it will continue to monitor global markets closely.
This decision is in line with moves by other processors this month.
Milk price
Earlier today (Friday, February 17), Dairygold also announced that it was pulling back on price.
Dairygold confirmed a milk price of 52c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, including VAT and sustainability and quality bonuses.
In addition to that price, a January early calving bonus of 3.15c/L, including VAT, will be paid on all qualifying milk supplied in January, in accordance with milk quality criteria, the agri-business said.
This brings Dairygold’s January quoted price for milk qualifying for the early calving bonus to 55.15c/L.
This price will equate to 64.2c/L on average January milk solids supplied by Dairygold suppliers.
A spokesperson for the processor said: “Dairy markets have weakened considerably in recent months, caused by an increase in global milk supplies and reduced demand driven by higher inflation.
“Weakened dairy market conditions will continue to impact milk price over the coming months. The Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis,” the spokesperson added.
Earlier this week, both Kerry Group and Lakeland announced similar cuts to milk price.
Kerry announced a price of 50c/L, including VAT, for milk at 3.3% protein and 3.6% butterfat.
Lakeland, meanwhile, also announced a 6c/L cut in price for its Republic of Ireland suppliers.
The price for Lakeland suppliers in the Republic is Ireland is 52.85c/L, including VAT, for milk at 3.6% fat and 3.3% protein.
In Northern Ireland, Lakeland reduced its milk price by 5p/L to 42.5p/L.