Dairygold has become the latest processor to hold its milk price for October supplies today (Thursday, November 17).
The processor has maintained the base figure of 57.5c/L based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of bonuses and VAT.
On average this equates to a farm-gate milk price of 74.9c/L based on average October milk solids provided by Dairygold milk suppliers.
On EU standard constituents of 3.4% protein and 4.2% butterfat the price is 62.7c/L, according to Dairygold.
“Dairy markets have been stable in recent weeks despite significant inflation which could potentially affect demand. Market returns this year have been at historic highs, and this is reflected in the continuous strong milk price being paid.
“The Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis,” a Dairygold spokesperson commented.
Dairygold’s announcement to maintain its base price for October supplies follows a trend of processors holding their milk prices.
Kerry Group will continue to pay its suppliers 56c/L including VAT at constituents of 3.3% protein and 3.6% butterfat.
Kerry will also pay an additional 1c/L, including VAT and based on standard constituents on October volumes as part of its contractual commitment.
An ex-gratia payment of 1c/L, including VAT and based on standard constituents, will also be made on milk volumes supplied under fixed price contracts in October.
Tirlán will pay an overall price of 58.08c/L for last month’s milk based on contents of 3.6% butterfat and 3.3% protein. This overall price is broken down as follows:
- A base milk price of 51.08c/L including VAT;
- An Agri-Input Support Payment of 6.5c/L for all milk supplied last month, including volumes in fixed price contracts;
- A Sustainability Action Payment of 0.5c/L, including VAT, is being paid monthly on all milk supplied in 2022 to recognise specific sustainability actions being undertaken on farm.
As the first processor to announce a price for milk supplied in October, Lakeland Dairies confirmed that it is continuing to hold its current milk price level of 58.85c/L, inclusive of VAT, for milk at 3.6% fat and 3.3% protein.
Lakeland said that this includes the supplementary input support payment of 1.5c/L, inclusive of VAT, for all suppliers, including those with fixed milk-price contracts.