Dairygold has today (Friday, November 15) announced an increase in its milk price for October supplies.
The Dairygold Board increased the price by 1c/L on last month to 49c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and VAT.
The October milk price equates to an average farm gate milk price of 65.2c/L, based on the average October 2024 milk solids, achieved by Dairygold milk suppliers.
The quoted milk price for October, based on EU standard constituents of 3.4% protein and 4.2% butterfat, is 53.4c/L, inclusive of VAT.
In a statement, a company spokesperson said that dairy market returns “remained positive” through October.
“Driven primarily by both butter and cheese returns, as buying activity remained strong, with annual global milk supply flat.
“The Dairygold board will continue to monitor markets closely and review milk price on a monthly basis,” the statement said.
October supplies
Milk prices were also increased by Lakeland Dairies and Kerry Dairy Ireland this week.
A base price of 49.6c/L for Lakeland Dairies was announced in the Republic of Ireland, at constituents of 3.6% butterfat and 3.3% protein. This is inclusive of the 0.5c/L Sustainability Incentive Payment.
In Northern Ireland (NI), a base price of 40.8p/L will be paid for milk supplied in October which is inclusive of the 0.5p/L Sustainability Incentive Payment. The base price has increased by 0.5p/L from September.
Kerry Dairy Ireland said that the milk price for September is 48.5c/L, including VAT, at constituents of 3.3% protein and 3.6% butterfat.
This marks another increase in milk price for Kerry suppliers; up from 47.75c/L last month, 45.25c/L in August, and 44c/L in July.
In terms of EU standard constituents of 3.4% protein and 4.2% butterfat, the price translates to 62.82c/L.