Dairygold Raises Milk Price for November Supplies Amid Strong Market Demand
Source: DairyNews.today
Dairygold announced on Thursday, December 12, an increase in its milk price for November supplies, reflecting robust market conditions and seasonal demand for dairy products.
The cooperative’s board approved a 1.0c/L increase, bringing the price to 50.0c/L based on standard constituents of 3.3% protein and 3.6% butterfat. This figure includes sustainability and quality bonuses, as well as VAT.
The revised price translates to an average farm gate milk price of 66.8c/L, based on November 2024 milk solids supplied by Dairygold’s producers. Using the EU standard constituents of 3.4% protein and 4.2% butterfat, the quoted price rises to 54.5c/L, inclusive of VAT.
Market Trends Driving Growth
“Dairy market returns remained positive through November, supported by strong buying activity and relatively flat global milk supply compared to last year,” a Dairygold spokesperson said.
The spokesperson attributed the demand surge to seasonal increases in purchases of butter and cheese, which drove stronger market performance.
“The Dairygold board will continue to monitor markets closely and adjust milk prices on a monthly basis,” they added.
Lakeland Dairies Maintains Milk Price for November
In contrast, Lakeland Dairies opted to hold its November milk price steady at 49.6c/L, matching the price offered in October.
This base price, calculated for milk with 3.6% butterfat and 3.3% protein, includes a 0.5c/L Sustainability Incentive Payment. Additionally, qualifying farmers will receive a 3c/L out-of-season payment for November milk supplies.
Industry Outlook
As dairy markets remain buoyed by seasonal trends and stable global supply, both cooperatives are taking measured approaches to pricing adjustments. Producers will watch closely for any changes in demand dynamics or supply conditions heading into 2025.
The revised price translates to an average farm gate milk price of 66.8c/L, based on November 2024 milk solids supplied by Dairygold’s producers. Using the EU standard constituents of 3.4% protein and 4.2% butterfat, the quoted price rises to 54.5c/L, inclusive of VAT.
Market Trends Driving Growth
“Dairy market returns remained positive through November, supported by strong buying activity and relatively flat global milk supply compared to last year,” a Dairygold spokesperson said.
The spokesperson attributed the demand surge to seasonal increases in purchases of butter and cheese, which drove stronger market performance.
“The Dairygold board will continue to monitor markets closely and adjust milk prices on a monthly basis,” they added.
Lakeland Dairies Maintains Milk Price for November
In contrast, Lakeland Dairies opted to hold its November milk price steady at 49.6c/L, matching the price offered in October.
This base price, calculated for milk with 3.6% butterfat and 3.3% protein, includes a 0.5c/L Sustainability Incentive Payment. Additionally, qualifying farmers will receive a 3c/L out-of-season payment for November milk supplies.
Industry Outlook
As dairy markets remain buoyed by seasonal trends and stable global supply, both cooperatives are taking measured approaches to pricing adjustments. Producers will watch closely for any changes in demand dynamics or supply conditions heading into 2025.
