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.
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.
