A further number of dairy co-ops have set their January 2023 milk price.
Carbery and Dairygold have become the latest to do so this afternoon (Friday) on the back of statements from Lakeland Dairies and Kerry Group earlier this week, as reported by That’s Farming.
Carbery has reduced its milk price for January by 4c/L, a statement from the processor to this publication reads.
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 52.8c/L, inclusive of VAT, and 0.5cpl Somatic Cell Count (SCC) bonus.
A spokesperson outlined that this decision is taken in view of the current dairy market performance.
Carbery has stated that it will continue to monitor global markets closely.
Meanwhile, Dairygold has reduced the January quoted milk price by 6.0c/L to 52.0c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and VAT.
In addition, it will pay the January early calving bonus of 3.15c/L, including VAT on milk supplied in January, in accordance with milk quality criteria.
Therefore, milk supplied in January that qualifies for the early calving bonus will have a quoted milk price of 55.15c/L.
The January milk price equates to an average January farm gate milk price of 64.2c/L, based on average January 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 56.7c/L.
A company spokesperson commented that “dairy market prices have weakened considerably in recent months, caused by an increase in global milk supplies and reduced demand driven by higher inflation”.
“Weakened dairy market conditions will continue to impact milk price over the coming months.”
“The Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis,” the spokesperson confirmed to this farming news publication.