Farming & Fisheries

Carbery and Dairygold increase milk prices by 1cpl for January

March 2nd, 2024 3:00 PM

By Southern Star Team

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CARBERY and Dairygold have both increased their milk prices by 1c per litre for January.

Carbery has increased their base milk price for January by 1cpl. Carbery is also continuing to support milk price from its stability fund with a contribution of 2cpl.

If this decision is replicated across the four West Cork co-ops; Bandon, Barryroe, Drinagh and Lisavaird, this will result in an average price for January of 40.05cpl, inclusive of Vat,  0.5cpl SCC bonus, futureproof sustainability bonus and stability fund support.

‘Dairy markets are beginning to find balance after the turbulence of 2024 and with global milk supplies decreasing. Forecasts remain unpredictable on the demand side, so we will continue to monitor markets closely to determine future pricing,’ a Carbery spokesperson said.  The Carbery statement continued: ‘The Carbery futureproof sustainability bonus payment for qualifying suppliers was paid with the December milk payment representing a maximum of 1cpl for suppliers who met all criteria.

‘Carbery is very pleased with the |uptake and activities undertaken by their farmer suppliers as part of futureproof, which continue to advance sustainability objectives.

‘Futureproof will be available in 2024 to all suppliers who meet the sustainability criteria.’

Meanwhile, Dairygold has increased the January quoted milk price by 1.0cpl to 38.0cpl.

In addition, the January early calving bonus of 3.14cpl, including Vat, will be paid on milk supplied in January in accordance with milk quality criteria, thereby increasing the attainable Dairygold milk price to 41.14cpl, at standard constituents.

The January milk price equates to an average January farm gate milk price of 48.0cpl, including the early calving bonus, based on the average January 2024 milk solids, achieved by Dairygold milk suppliers.

The quoted milk price for January, based on EU standard constituents of 3.4% protein and 4.2% butterfat, is 44.6cpl, including the early calving bonus and inclusive of Vat.

A Dairygold spokesperson commented that ‘dairy market prices have improved in recent months, reflecting a decrease in global milk supplies, but with demand continuing to be volatile, future pricing forecasts remain uncertain.

‘The Dairygold board will continue to monitor markets closely and review milk price on a month by month basis.’

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