Dairygold has become the latest processor to set its August milk price.
The processor released a statement earlier this afternoon (Friday, September 15th).
The processor has maintained the August quoted milk price at 57.5cpl, based on standard constituents of 3.3% Protein and 3.6% Butterfat, inclusive of bonuses and VAT.
This, a spokesperson told That’s Farming, milk price equates to an average August farm gate milk price of 64.8cpl, based on average August milk solids, Dairygold milk suppliers achieved.
The quoted milk price for August based on EU Standard constituents of 3.4% protein and 4.2% butterfat is 62.7cpl.
A spokesperson for Dairygold said:
“Dairy markets have continued to be flat in recent weeks as we now see the impact of inflation on demand.”
“Market returns remain at historic highs, and this is reflected in the continuous strong milk price being paid.”
“The society will continue to maximise the value of milk returns to recognise the significant increases in input costs to milk suppliers this year.”
“The Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis,” the spokesperson added.
Kerry Group was the second processor to announce its August 2022 milk price.
Its base price for August milk supplies is 56c/L (Vat inc.) at 3.30% Prot/3.60% Bfat and 61.28c/L(Vat inc.) at EU standard constituents of 3.40% Prot/4.20% Bfat.
Based on Kerry’s average milk solids for August, the milk price return inclusive of VAT and bonuses is 62.06c/L.
Kerry Group will also pay an additional 1.5c/L (Vat Inc) at 3.30% protein and 3.60% butterfat An august volumes as part of its contractual commitment.
It will also pay an ex-gratia payment of 1.5c/L (Vat Inc) at 3.30% protein and 3.60% butterfat on milk volumes supplied under fixed price contracts in August.