Carbery has increased its base milk price for December by 1c/L it confirmed today (Friday, January 19).
The west Cork-based processor said it will continue to support milk price from its Stability Fund with a contribution of 2c/L.
According to Carbery, if this decision is replicated across the four west Cork co-ops – Bandon, Barryroe, Drinagh and Lisavaird – this will result in an average amount for December supplies of 38.07c/L compared to the November price of 37.03c/L.
This price is inclusive of VAT, 0.5c/L Somatic Cell Count (SCC) bonus and including the Stability Fund support.
Sustainability bonus payment
The Ballineen headquartered company, owned by farmers in west Cork, also confirmed that its Carbery FutureProof sustainability bonus payment for qualifying suppliers will also be paid with the December milk payment.
This represents a maximum of 1c/L for suppliers who meet all criteria.
“Carbery is very pleased with the uptake and activities undertaken by their farmer suppliers as part of FutureProof, which continue to advance sustainability objectives,” it stated.
Milk price
There has been a trend this month of processors upping the price for supplies in December and an undercurrent of a more positive, but still cautious outlook.
Kerry confirmed it will pay 36c/L, including VAT, for milk supplied last month at 3.30% protein and 3.60% butterfat.
Based on Kerry Group’s average milk solids for December, the milk price return inclusive of VAT and bonuses is 45.5c/L.
Dairygold will also increase its quoted milk price by 1.5c/L to 37c/L for December milk, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and VAT.
Meanwhile, Lakeland said it would increase its milk price by 1.15c/L for December.
A base price of 37.15c/L at 3.6% butterfat and 3.3% protein will be paid for milk supplied from the Republic of Ireland.
Qualifying farmers will also receive a 5c/L out-of-season payment.
For supplies from Northern Ireland, Lakeland will pay a base price of 30.25p/L, an increase of 1p/L. An out-of-season payment of 3p/L will apply.
Separately the Global Dairy Trade (GDT) price index continued its upward trajectory following the second trading event of 2024 this week (Tuesday, January 16).
The index increased by 2.3% to stand at 1,061.
This is the fourth consecutive increase for the index, however, it is still considerable down from 1,593 recorded in March 2022