Dairygold has become the latest processor to announce its price for May milk.
The dairy business has opted to maintain the same quoted milk price it announced last month.
Dairygold will offer a quoted milk price for May of 40c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses, and VAT.
The processor said that its quoted milk price will equate to an average farmgate price for May of 41.9c/L, based on average May milk solids achieved by Dairygold milk suppliers.
On EU standard constituents, the price for May, based on constituents of 3.4% protein and 4.2% butterfat is 42.6c/L.
Announcing the price today, a spokesperson for Dairygold commented: “Global dairy market performance has shown signs of stabilising in recent weeks, but significant volatility still remains in certain product groups which could affect market returns in the second half of the year.
“The Dairygold board will continue to monitor markets closely and review milk price on a month by month basis,” the spokesperson added.
Dairygold is the third dairy processor to announce its price for May milk, following Lakeland Dairies and Kerry Group.
Kerry Group announced its price yesterday (Thursday, June 15), opting to pay suppliers a base milk price of 37c/L, including VAT, for milk at 3.3% protein and 3.6% butterfat.
This marks a drop of 1c/L by the processor from the base price of 38c/L for April supplies.
This latest Kerry Group price equates to 40.61c/L including VAT at EU standard constituents 3.4% protein and 4.2% butterfat.
The processor said that, based on Kerry’s average milk solids for April, the expected average milk price return inclusive of VAT and bonuses is 39.09c/L.
In a statement, Kerry Group said that “global dairy markets continue to struggle with significant demand uncertainty”.
On Tuesday (June 13), Lakeland Dairies was the first processor to announce a milk price for May.
In the Republic of Ireland, the processor has held the base price of milk for May at 37.35c/L including VAT, for milk at 3.6% fat and 3.3% protein.
The Lakeland board has discontinued the monthly Input Support Payment (previously 1.5c/L in the republic and 1.5p/L in Northern Ireland), which was first established in August 2022 onwards.