Glanbia Ireland, Dairygold, and Carbery Group are among the co-ops that have set their November 2021 milk prices.
Firstly, Glanbia Ireland will pay its members 39.0 cent per litre (cpl) (including VAT) for November creamery milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland (GI) will pay a base milk price for November of 38.58 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. According to the processor, this is an increase of 1.4 cpl (including VAT) from the October base price.
Furthermore, farmer members will also receive a 0.42 cpl (including VAT) payment from Glanbia Co-op on all milk supplied this month as their ‘Share of GI Profit’.
The Glanbia Ireland base price and Co-op ‘Share of GI Profit’ payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
The Glanbia milk price for November creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 42.39 cpl.
The processor will include seasonality payments in next month’s milk price payments. It will pay an unconditional Late Supply Bonus (LSB) of 2 cpl (including VAT) on all milk supplied during December.
The spokesperson said the Late Supply Bonus was previously confined to creamery milk suppliers.
However, it will now apply to all milk supplied, including all volumes supplied by its liquid and autumn-calving scheme suppliers, which are not already subject to premium payments.
Glanbia Ireland chairman, John Murphy, said:
“Global milk supply has fallen, with rising input costs and wider inflationary pressures having a strong impact.”
“The market is continuing to benefit from customers moving to secure product in the face of supply chain challenges and weaker global milk production.”
“The returns for dairy product categories have continued to firm. The board will continue to monitor developments monthly.”
November 2021 milk prices: Dairygold
Meanwhile, Dairygold has increased the November milk price by 1.5cpl to 39.5cpl.
This is based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of bonuses and VAT.
According to the processor, this milk price equates to an average November farm gate milk price of 51.4cpl, based on average November milk solids, achieved by its milk suppliers.
The quoted milk price for November based on EU Standard constituents of 3.4% Protein and 4.2% Butterfat is 43.2cpl.
A company spokesperson said:
“Global milk supplies continue to ease with projected growth for the year 2021 expected to be less than 1%.”
“Demand continues to be strong and dairy ingredient prices have firmed in recent weeks.”
The spokesperson said Dairygold will continue to monitor markets “closely” and review milk price on a month-by-month basis.
Also, Carbery Group has increased its milk price for November by 1cpl.
In a statement on Friday, December 17th, 2021, a spokesperson said:
“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 November of 39.2cpl, inclusive of VAT and 0.5cpl Somatic Cell Count (SCC) bonus.”
See more milk price announcements.