The latest Milk Price Tracker – brought to you by AgriLand and the Irish Creamery Milk Suppliers’ Association (ICMSA) – details milk prices from the most significant Irish dairy co-ops for the month of February.

For each co-op, a green arrow indicates an increase in base milk price (compared with the previous month); a blank space signifies no change; and a red arrow indicates a drop in base milk price.

It should also be noted that, when calculating the base prices (on a c/L basis), we have used a fixed mass density factor – to convert from kilograms (kg) to litres (L).

The conversion factor used is 1.03. In other words, 1L of milk corresponds to 1.03kg of milk.

Moreover, the Irish c/L milk prices – quoted in the table – are base prices at the ‘standard’ fat and protein percentages cited by the vast majority of co-ops (i.e. 3.3% protein and 3.6% fat).

We also include base prices at ‘standard’ European criteria (i.e. 3.4% protein and 4.2% fat).

Furthermore, there is a column detailing what we describe as the ‘maximum attainable price’ – which is based on consistent levels of 3.3% protein and 3.6% fat.

February 2021 Prices

The milk prices in this table (below) are those quoted by co-ops for the month of February (2021).

All bonus and penalty payments are based on manufacturing milk. The VAT rate changed from 5.4% to 5.6% as per Budget 2021.

February’s Bonuses And Penalties

Further details of bonuses and penalties for February’s Milk Price Tracker can be found here:[button link="https://www.agriland.ie/farming-news/milk-price-tracker-bonuses-and-penalties-tables/"]Click here[/button]