Dairygold, at its Board meeting today, decided to hold its milk price for January supplies of milk at 25.5c/L.

The co-op follows Glanbia in holding its milk price for January. Glanbia announced yesterday that it will hold its milk price for member supplies at 25c/L including VAT.

This price is also inclusive of a 1c/L Glanbia Co-Operative Society support payment to its members.

Glanbia Ingredients Ireland (GII) also announced yesterday that it has set a January market price of 24c/L including VAT for manufacturing milk at 3.6% fat and 3.3% protein.

The Board of Glanbia Co-operative Society has decided to pay members that have signed an MSA a bonus of 1c/L (including VAT) for January manufacturing and liquid milk supplies.

Meanwhile, Lakeland Dairies last week cut its January milk price for base supplies from 26.25c/L to 25.5c/L.

If a lactose bonus (0.28c) is applicable, the milk price would be 28.78c/L including VAT. Lakeland Dairies had held its milk price for December supplies of milk.

With co-ops setting their milk prices this week, the IFA is calling for an urgent meeting of the Dairy Forum as co-ops nationwide.

Speaking following last week’s meeting of the IFA National Dairy Committee, Chairman Sean O’Leary said members are seriously concerned that fellow-dairy farmers would be hit head-on by the severity of their cash flow situation when they receive their first 2016 milk cheque around mid-March.

O’Leary said that low constituents, low volumes, high expenses including feed and superlevy bills, will cut deep into farmers’ cash flow.