Dairygold is the latest processor to announce an increase in its milk price for February supplies.

It has increased the February quoted milk price by 1.5c/L to 43.0c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of bonuses and VAT.

In addition, the February early-calving bonus of 2.0c/L (excluding VAT) will be paid on milk supplied in February in accordance with milk quality criteria, according to a Dairygold spokesperson.

Average Dairygold milk price

Dairygold has said that this milk price equates to an average February farm gate milk price of 50.6c/L, based on average February milk solids, achieved by milk suppliers.

The quoted milk price for February based on EU standard constituents of 3.4% protein and 4.2% butterfat is 46.9c/L (excluding the February early-calving bonus).

A company spokesperson commented that “global dairy demand continues to remain strong, driven by weakened supply from all major milk producing regions”.

“However, the war in Ukraine has led to a spike in input costs, both on farm and in processing and this situation remains under constant review.

“As is customary, the Dairygold board will continue to monitor markets closely and review milk price on a month by month basis,” the spokesperson added.

Meanwhile, Dairygold has joined forces with its members and colleagues to raise funds for the Irish Red Cross, to support humanitarian work on the ground in Ukraine.

The processor has pledged a corporate donation of €30,000. In addition, Dairygold members and colleagues, can make a donation, if they wish, on the following idonate page: www.idonate.ie/dairygoldukraine.