Dairygold has become the third processor to set its May 2023 milk price, following Lakeland Dairies and Kerry Group, writes farming journalist, Catherina Cunnane.
The processor, has, in a statement to www.thatsfarming.com, confirmed that it will pay a May quoted milk price at 40.0cpl, based on standard constituents of 3.3% Protein and 3.6% Butterfat, inclusive of Sustainability and Quality bonuses and VAT.
The May milk price equates to an average May farm gate milk price of 41.9cpl, based on average May milk solids, achieved by Dairygold milk suppliers.
The quoted milk price for May based on EU Standard constituents of 3.4% Protein and 4.2% Butterfat is 42.6pl.
Market volatility
A company spokesperson commented, “that global dairy market performance has shown signs of stabilising in recent weeks”.
“However, significant volatility still remains in certain product groups, which could affect market returns in the second half of the year”.
“The Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis,” the spokesperson added.
Dairygold’s April milk price
Last month, we reported that Dairygold reduced the April quoted milk price by 2.0cpl to 40.0cpl, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and VAT.
The April milk price equates to an average April farm gate milk price of 43.1cpl, based on average April milk solids achieved by Dairygold milk suppliers.
The quoted milk price for April based on EU standard constituents of 3.4% protein and 4.2% butterfat was 43.6cpl.
A company spokesperson commented that “there continued to be a weakness in global dairy ingredient markets over the last number of weeks”.
“This is driven by a reduction in demand in certain markets and products driven by previous high prices.”
“There are some indications that markets are stabilising, but it remains to be seen if this is sustained across peak supply.”
“The Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis,” the spokesperson added.
