Dairygold Announces Increased Milk Price for January Supplies
Source: The DairyNews
Dairygold, a prominent dairy processor, has revealed its milk price for January, closely following the announcement made by Lakeland Dairies earlier in the week. The processor has confirmed a 1 cent per liter (c/L) increase, setting the quoted milk price at 38c/L for January supplies.
This calculation is based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses along with VAT.
In addition to the base increase, Dairygold has outlined an early calving bonus of 3.14c/L, including VAT, to be paid on January milk supplies meeting the Milk Quality Criteria. This bonus raises the attainable Dairygold milk price to 41.14c/L, considering standard constituents.
For Dairygold milk suppliers, this translates into an average farm gate milk price of 48c/L for January, inclusive of the early calving bonus, based on the average milk solids achieved in January 2024.
When considering EU Standard constituents of 3.4% protein and 4.2% butterfat, the quoted milk price for January stands at 44.6c/L. This figure includes the early calving bonus and VAT.
A spokesperson for Dairygold acknowledged recent improvements in dairy market prices due to a decline in global milk supplies. However, they emphasized the ongoing volatility in demand, leading the Dairygold board to commit to monitoring markets closely and reviewing the milk price on a month-by-month basis.
Lakeland Dairies, earlier in the week, confirmed a base price of 38.90c/L for January milk in the Republic of Ireland, with additional sustainability incentives and input support payments. Northern Ireland suppliers will receive a base price of 31.75p/L for January, including similar bonus payments.
Both processors highlighted the challenging winter period for farmers and expressed a commitment to supporting them through various incentive and support payments. The dairy industry continues to navigate uncertain market conditions, prompting regular reviews of milk prices in response to changing dynamics.
In addition to the base increase, Dairygold has outlined an early calving bonus of 3.14c/L, including VAT, to be paid on January milk supplies meeting the Milk Quality Criteria. This bonus raises the attainable Dairygold milk price to 41.14c/L, considering standard constituents.
For Dairygold milk suppliers, this translates into an average farm gate milk price of 48c/L for January, inclusive of the early calving bonus, based on the average milk solids achieved in January 2024.
When considering EU Standard constituents of 3.4% protein and 4.2% butterfat, the quoted milk price for January stands at 44.6c/L. This figure includes the early calving bonus and VAT.
A spokesperson for Dairygold acknowledged recent improvements in dairy market prices due to a decline in global milk supplies. However, they emphasized the ongoing volatility in demand, leading the Dairygold board to commit to monitoring markets closely and reviewing the milk price on a month-by-month basis.
Lakeland Dairies, earlier in the week, confirmed a base price of 38.90c/L for January milk in the Republic of Ireland, with additional sustainability incentives and input support payments. Northern Ireland suppliers will receive a base price of 31.75p/L for January, including similar bonus payments.
Both processors highlighted the challenging winter period for farmers and expressed a commitment to supporting them through various incentive and support payments. The dairy industry continues to navigate uncertain market conditions, prompting regular reviews of milk prices in response to changing dynamics.
