Dairygold has confirmed the price it will pay farmers for their March milk supplies as 40c/l excluding VAT and at standard constituents of 3.3% protein and 3.6% butterfat.
The price represents a near 4c/l cut on the 43.8c/l milk price excluding VAT that Dairygold suppliers received for February milk.
The co-op’s March milk price is inclusive of sustainability and quality bonuses and, in addition, it will pay farmers a March early calving bonus of 1.05c/l including VAT.
A Dairygold spokesperson said that “there has been significant pressure on milk price from continued weakness in the market over the last number of weeks and this has resulted in reduced returns for dairy commodities”.
“While we remain hopeful that dairy markets will stabilise in the medium term, milk returns remain under pressure in the short term. The Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis.”
Competitors
Last week, Lakeland Dairies also chopped a further 4c/l off its milk price for March supplies, with farmers to receive 40.81c/l excluding VAT for milk at 3.6% butterfat and 3.3% protein.
This is down from the 44.61c/l excluding VAT that Lakelands paid farmers for their February supplies.
Kerry Group has also cut its milk price for March supplies to 38.1c/l excluding VAT at 3.4% protein and 4.2% butterfat.
The price represents a near 4c/l drop on the 41.9c/l Kerry Group suppliers received for their February supplies.