Dairygold has confirmed its milk price for supplies in September, opting to hold its price.
As with last month, Dairygold will offer a quoted milk price of 33.5c/L, inclusive of VAT and sustainability and quality bonuses, based on standard constituents of 3.3% protein and 3.6% butterfat.
The September milk price equates to an average September farmgate milk price of 41.4c/L, based on average September milk solids achieved by Dairygold suppliers, according to the processor.
A spokesperson for Dairygold said that the global market outlook for milk has stabilised recently after several months of low demand.
“Global markets have started to stabilise in recent weeks and there are indications that this trend will continue as we head towards the end of the year.
“The Dairygold board will continue to closely monitor markets and review milk price on a month by month basis,” the spokesperson said.
September milk price
Dairygold is the latest processor to hold its milk price this month, after announcements by Lakeland Dairies and Kerry Group.
Yesterday (Monday, October 16), Kerry Group announced a base milk price of 32c/L, plus a further 3c/L milk contract payment, inclusive of VAT for qualifying September supplies, representing a combined price of 35c/L, which is unchanged from the August price.
Based on Kerry’s average milk solids for September, the processor said that the milk price return, inclusive of VAT and bonuses, is 41.91c/L.
Last Thursday (October 12), Lakeland confirmed a base price of 34c/L at constituents of 3.6% butterfat and 3.3% protein for suppliers in the Republic of Ireland.
The base price is unchanged from the price paid for August milk.
In Northern Ireland, a base price of 27.25p/L will be paid for milk supplied in September. Again, the Northern Irish base price has been held on the price from the previous month.
Despite the held price, Lakeland said: “While sentiment in the global dairy market has shown some tentative signs of improvement in recent weeks, there has been little in the way of increased activity with buyers continuing to take a reserved position.
“We are entering a crucial demand period for dairy, against a backdrop of New Zealand approaching its peak milk supply months,” the processor added.