Dairygold latest processor to cut milk price
Dairygold has reduced its milk price (for February milk) by 2cpl to 34 cpl inclusive of 0.5 cpl quality bonus and VAT.
This comes following Glanbia Ireland cutting its milk price yesterday by 3c/l from January levels.
It will pay milk suppliers 32c/l including VAT for February at 3.6pc butterfat and 3.3pc protein.
However, it will also include a ‘special support payment’ of 1c/l to reflect “the tough Spring” and “challenging” conditions on farms.
Kerry Group also moved to cut its milk price by 2c/l from January levels. It will pay suppliers 34c/l including VAT for February. While Lakeland Dairies cut his prices by 1c/L.
It also follows Global Dairy Trade prices slipping for the second time in a row.
Ahead of the board meeting, Glanbia Ireland’s Jim Bergin warned at the launch of the revamped Wexford cheese plant that there was an “oversupply situation”.
“Today, markets are trading considerably below the milk price, so therefore we will have to address that,” he added.