Dairygold has today (Friday, March 15), become the latest processor to announce an increase in its milk price for February supplies.
The processor increased its milk price by 2.0c/L to 40.0c/L, based on standard constituents of 3.3% protein and 3.6% butterfat.
This February quoted milk price is inclusive of sustainability and quality bonuses and VAT, the processor said.
In addition, the February early calving bonus of 2.1c/L, including VAT, will be paid on milk supplied in February, in accordance with milk quality criteria.
Thereby, the processor said it increased the attainable Dairygold milk price for February to 42.1c/L at standard constituents.
Dairygold
The milk price equates to an average farm gate milk price of 47.7c/L, based on the average February 2024 milk solids achieved by suppliers.
The milk price based on EU standard constituents of 3.4% protein and 4.2% butterfat is 45.7c/L, including the early calving bonus and inclusive of VAT.
“Dairy market prices have marginally improved recently, primarily due to a decrease in global milk supply, but with demand remaining challenging, future pricing forecasts remain uncertain.
“The Dairygold board felt that it was important to set a strong milk price, to provide confidence to milk suppliers as the peak milk production season approaches.
“The Dairygold board will continue to monitor markets closely and review milk price on a monthly basis,” according to a company spokesperson.