Dairygold cuts milk price by 2c/L
Dairygold has 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.
It said its 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 is 43.6cpl.
A Company spokesperson commented ‘that there continued to be 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”.
It comes as the Board of Lakeland Dairies last week decided to reduce the co-operative’s milk price for April, reflecting what it said was ongoing market conditions.
In the Republic of Ireland, Lakeland Dairies has reduced the milk price by 4 cent/litre to 38.85 cent/litre of VAT, for milk at 3.6% fat and 3.3% protein.
Its April price includes an Input Support Payment of 1.5 cent/litre, inclusive of VAT, for all suppliers.