Dairygold is to hold February’s base milk price at January’s level of 34.45c/l at standard constituents, excluding VAT but inclusive of sustainability and quality payments.

The co-op also announced that an early calving payment of 4.98c/l ex VAT on top of base will be paid on February milk supplies on a solids-adjusted basis and in accordance with milk quality criteria

This takes to 39.43c/l ex VAT the attainable Dairygold milk price at standard constituents of 3.3% protein and 3.6% fat.

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Dairygold said that the average constituents of milk supplied would result in a price of 46.60c/l ex VAT on milk cheques for supplies delivered last month.

The holding of February’s base milk at Dairygold comes after Ornua announced that its Purchase Price Index (PPI) slipped marginally for February milk, but after the latest Global Dairy Trade event saw the auction index rise by 5.7% on the back of strengthening powder and butter prices.

“Dairy markets have shown some signs of improvement in recent weeks, supported by short-term buying,” Dairygold’s chair Pat Clancy said

“However, overall fundamentals remain largely unchanged, as global milk supply remains strong across all major exporting regions.

“Geopolitical instability caused by the expanded conflict in the Middle East is expected to impact both trade and demand.”

Last month saw Dairygold top the Irish Farmers Journal's manufacturing milk price league.

The co-op had paid out a 6.99c/l ex VAT in January early calving bonuses to qualifying suppliers.

The processor also announced last month that its balanced scorecard payments, early calving payments and grassroots payments are to be adjusted to reflect solids in 2026.

Lakeland Dairies was the first co-op off the mark with a milk price announcement for February, stating earlier this week that January's price was to remain on milk cheques for last month's milk.