Dairygold has announced its milk price for supplies in January, following on from Lakeland Dairies’ announcement earlier this week.
The processor confirmed that it will increase its quoted milk price by 1c/L to 38c/L for January milk, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and VAT.
In addition, Dairygold said that the January early calving bonus of 3.14c/L, including VAT, will be paid on milk supplied in January in accordance with Milk Quality Criteria.
The processor said that this will increase the attainable Dairygold milk price to 41.14c/L, at standard constituents.
Dairygold
The January milk price equates to an average January farm gate milk price of 48c/L, including the early calving bonus, based on the average January 2024 milk solids, achieved by Dairygold milk suppliers.
The quoted milk price for January, based on EU Standard constituents of 3.4% Protein and 4.2% Butterfat, is 44.6c/L, including the early calving bonus and inclusive of VAT.
A spokesperson for Dairygold said: “Dairy market prices have improved in recent months, reflecting a decrease in global milk supplies, but with demand continuing to be volatile, future pricing forecasts remain uncertain.
“The Dairygold board will continue to monitor markets closely and review milk price on a month by month basis”.
On Tuesday, Lakeland Dairies confirmed that a base price of 38.90c/L based on constituents of 3.6% butterfat and 3.3% protein, will be paid for January milk in the Republic of Ireland.
The base price has increased by 1.75c/L since the previous month including the new 0.5c/L Sustainability Incentive Payment.
The cooperative said that all suppliers will automatically receive a 1c/L early calving bonus and are also receiving an unconditional 1c/L Input Support Payment to assist farmers with costs during a challenging winter period.
This brings the January milk price up to 40.90c/L with those two bonus payments included. Meanwhile, qualifying farmers will also receive a 5c/L out-of-season payment.
In Northern Ireland, a base price of 31.75p/L will be paid for milk supplied in January.
The base price has increased by 1.5p/L since December including the new 0.5p/L Sustainability Incentive Payment.
The co-op said that all NI suppliers are also automatically receiving the unconditional 1p/L Input Support Payment to give an all-in price increase of 2.5p/L. So, the price paid to milk suppliers for January will be 32.75p/L which includes the Input Support Payment.