The four co-ops within Carbery – Drinagh, Barryroe, Lisavaird and Bandon – will decide in the coming days if they will apply the increase to their suppliers.The four were already leading the
September milk league, paying between 25.75c/l and 26.25c/l excluding VAT and conditional bonuses, at 3.6% fat and 3.3% protein.
The four co-ops within Carbery – Drinagh, Barryroe, Lisavaird and Bandon – will decide in the coming days if they will apply the increase to their suppliers.
The four were already leading the September milk league, paying between 25.75c/l and 26.25c/l excluding VAT and conditional bonuses, at 3.6% fat and 3.3% protein.
Carbery increased its milk price by 1.5c/l in August and 1c/l in September.
Lakeland was first to set its milk price last Friday, increasing its September price by 1c/l to 25.6c/l excluding VAT.
IFA dairy committee chairman Sean O'Leary described the Lakeland price as disappointing, arguing that current European dairy product prices would be equivalent to a 28.5c/l farmgate price excluding VAT. “In the context of significantly improved returns, as well as continued cash flow pressures on farms, and with an eye on setting farmers up for viable price levels for next spring, significant increases for October milk are totally justified," O'Leary said.
Ornua’s PPI index hit a 17-month high last week, and there are hopes for further gains at the Global Dairy Trade (GDT) auction scheduled for this Tuesday after an 11% jump in the price of dairy commodities traded on 1 November.
More co-ops are due to set their October milk price in the coming days, stay tuned to www.farmersjournal.ie for live updates.
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