Dairygold has today (Thursday, December 14), announced that it has increased its milk price for November supplies by 2c/L.
The processor increased the milk price to 35.5c/L, based on 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and VAT.
The milk price equates to an average farm gate milk price of 46.8c/L, based on average November milk solids achieved by Dairygold milk suppliers.
The quoted milk price for November based on EU standard constituents of 3.4% protein and 4.2% butterfat is 38.8c/L, the processor said.
“Global milk markets have started to return increased value in recent weeks as supply and demand have rebalanced.
“Future markets are also positive but sentiment remains cautious,” according to a spokesperson for the company.
The Dairygold board will continue to closely monitor markets and review milk price on a month-by-month basis, the spokesperson added.
Milk price for November
Meanwhile, Kerry Group will pay 35c/L, inclusive of VAT, at 3.30% protein and 3.60% butterfat. The price has remained unchanged since August.
The price consists of a base price of 32c/L and a milk contract payment of 3c/L, inclusive of VAT, on all qualifying milk volumes.
Based on Kerry’s average milk solids for November, the milk price return inclusive of VAT and bonuses is 45.9c/L.
Lakeland Dairies earlier this week confirmed an increase in the milk price it will pay dairy farmers for milk supplied in November.
A base price of 36c/L (3.6% butterfat and 3.3% protein) will be paid for November milk in the Republic of Ireland.
This means that the base price has increased by 2c/L. Qualifying farmers will also receive a 3c/L out-of-season payment.