Dairygold has become the latest processor to announce its milk price for February supplies, with an announcement today, Friday, March 13.
The southern cooperative revealed that it is holding its price for last month.
A spokesperson for the co-op said that this equates to an average farm gate milk price of 37.88c/L based on average February milk solids, achieved by it suppliers, “for all milk supplied to Dairygold and the February early calving bonus”.
“Dairygold wishes to express a word of caution on dairy markets, due largely to the impact of the coronavirus Covid-19.
Markets are experiencing serious volatility at this point, especially on the milk powder front.
“These products are bearing the brunt of significant downward pressure on prices,” the spokesperson added.
Glanbia milk price
Glanbia will pay its member milk suppliers 34.42c/L including VAT and bonuses for February creamery milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland will pay a base milk price for February of 31c/L including VAT for creamery milk at 3.6% fat and 3.3% protein. This is unchanged from the January base price.
Farmer members will also receive a 0.42c/L including VAT payment from Glanbia Co-op on all milk supplied this month as its ‘Share of GI Profit’.
An Early Calving Bonus (ECB) of 3c/L including VAT will be paid to creamery suppliers for February milk. The ECB replaces the previous Seasonality Scheme.
The Glanbia Ireland base price, Glanbia Co-op Share of GI Profit payment and Early Calving Bonus will be adjusted to reflect the actual constituents of milk delivered by suppliers.