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 August.
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 is important to note that the cent-per-litre (c/L) milk prices – shown in the table below – are calculated using the widely-accepted milk pricing system (an approach employed by most Irish co-ops).
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 (3.3% protein and 3.6% fat).
We also include base prices at ‘standard’ European criteria (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.
August 2021 Prices
The milk prices in this table (below) are those quoted by co-ops for the month of August (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.
August bonuses and penalties
Further details of bonuses and penalties for the August Milk Price Tracker can be found by clicking here.
WITH REGARD TO MILK PRICE TRACKER (ABOVE), PLEASE SEE THESE EXPLANATORY NOTES:
- All bonus and penalty payments are based on manufacturing milk;
- Arrabawn pays a 0.2c/L (excl. VAT) bonus on all milk with an somatic cell count (SCC) less than 200,000 cells/ml;
- Aurivo has a milk storage bonus which is available to suppliers with a minimum annual supply of 160,000L that have enough refrigerated storage capacity to cover seven milkings at peak production;
- Aurivo also has a 0.22c/L (excl. VAT) protein bonus available for every 0.05% protein achieved, above the co-op average protein percentage, in an individual month;
- Carbery Group pays a bonus of 0.5c/L (excl. VAT) from March to October and a 0.88c/L (excl. VAT) bonus from November to February, to suppliers who achieve a somatic cell count (SCC) of less than 200,000 cells/ml;
- Dairygold applies no penalties to total bacteria counts (TBCs) of less than 75,001 cells/ml in the months of January, February, November and December. Penalties will apply to TBCs more than 75,000 cells/ml in those months;
- Dairygold has a 0.25c/L included and 0.1c/L for the Sustainable Dairy Assurance Scheme (SDAS), 0.1c/L for sign up to milk recording (four per year) and 0.05c/L for sign up to milk recording and a Munster Bovine herd health scheme;
- Dairygold also has a 0.04c/L maximum bonus attainable by farmers who achieve the minimum requirements for six criteria (TBC, thermoduric, sediment, SCC, lactose and inhibitors). This cumulatively amounts to 0.65c/l (excl. VAT);
- Glanbia include 0.4c/L (excl. VAT) payment on all milk supplied as a ‘Share of GI Profit’;
- Kerry pays 0.4c/L (excl. VAT) bonus on all milk with an SCC less than 200,000 cells/ml and 0.1c/l (excl. VAT) for SDAS;
- North Cork pays a 0.1c/L (excl. VAT) bonus on all milk with an SCC of less than 200,000 cells/ml;
- North Cork is paying 1c/L (excl. VAT) bonus on all milk including Fixed Price Contracts. This has increased 0.5cpl for August;
- Strathroy pays a 0.25c/L (excl. VAT) bonus on all milk with an SCC of less than 200,000 cells/ml;
- Strathroy also pays a 0.25c/l (excl. VAT) bonus on all milk with an TBC of less than 10,000 cells/ml.
- Tipperary pays a bonus of 0.25c/l (excl. VAT) on all milk with an SCC less than 250,000 cells/ml.
Interactive milk price tracker
A new interactive monthly milk price comparison tool – which allows farmers to make relevant processor price comparisons based on their own individual statistics – has been launched by the Irish Creamery Milk Suppliers’ Association (ICMSA).
The facility, available to all members on the ICMSA website, will allow farmers around the country to see exactly what other processors would have paid them for their milk on a monthly or yearly basis.