Dairygold is the latest dairy processor to announce its milk price for January supplies, opting to increase its offering.
The dairy business announced this afternoon that it will increase its price by a further 1c/L, bringing it to 41.5c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, including VAT and bonuses.
In addition to the quoted price, Dairygold’s January calving bonus of 3c/L will be paid on milk supplied in January in accordance with milk quality criteria.
This milk price equates to an average January farmgate milk price of 51.9c/L, based on average January milk solids achieved by Dairygold milk suppliers, the processor said.
Based on EU standard constituents of 3.4% protein and 4.2% butterfat, the quoted milk price for January is 45.3c/L (excluding the calving bonus).
A spokesperson for Dairygold said today (Thursday, February 17) that “global dairy demand remains strong for the foreseeable future with weakened supply likely to support current prices, even allowing for significant increases in processing costs”.
“As is customary, the Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis.”
Dairygold is the fourth major processor to set their price for January milk, after Lakeland Dairies, Glanbia and Kerry Group.
Yesterday, Kerry Group confirmed that it is to increase its base price for milk supplied during January.
The processor said that its base price for last month’s milk will be 41c/L, including VAT, for milk with constituents of 3.3% protein and 3.6% butterfat.
That is an increase of 1.75c/L on the base price paid to suppliers in December.
On Tuesday, Glanbia said that the price paid to farmers for January milk, along with bonuses (including a new Sustainability Action Payment) would see the potential for a 44.58c/L total price this month.
This price comprises a base price of 40.08c/L including VAT on milk at 3.6% butterfat and 3.3% protein.
And on Thursday of last week, Lakeland Dairies confirmed that it will increase the base price paid to dairy farmers for milk supplied in January.
The board of Lakeland Dairies said that milk price in the Republic of Ireland will increase by 1c/L. This will mean that farmers will be paid 41c/L, inclusive of lactose bonus and VAT, for milk at 3.6% fat and 3.3% protein for milk supplied during January.
In Northern Ireland, Lakeland Dairies has increased its milk price by 0.8p/L to 32.7p/L.