With recent increases in milk prices sustained in January, the rolling average milk price for the 12-month period ending in January 2017 is showing an increase of 0.6p/l to 0.7p/l when compared with the rolling 12 month average ending in December 2016.In the 1m litre supply table (Table B), good quality milk had a 12-month average price of 22.43p/l to the end of January 2017, compared with 21.76p/l at the end of December 2016.
With recent increases in milk prices sustained in January, the rolling average milk price for the 12-month period ending in January 2017 is showing an increase of 0.6p/l to 0.7p/l when compared with the rolling 12 month average ending in December 2016.
In the 1m litre supply table (Table B), good quality milk had a 12-month average price of 22.43p/l to the end of January 2017, compared with 21.76p/l at the end of December 2016.
With an average paid price of 22.66p/l, Lakeland Dairies still has the best 12-month price for suppliers of good quality milk, followed by Glanbia Milk and Fivemiletown on 22.53p/l.
The Lakeland price has increased by 0.65p/l in the current 12-month rolling average, with all processors now on a rolling average price for good quality milk above 22p/l.
For a 1m litre producer with average quality milk, Glanbia Cheese is now paying the best 12-month rolling price at 21.33p/l. Lakeland is paying the second highest average price on 21.27p/l, followed by Glanbia Milk and Fivemiletown.
Differential
The differential between good and average quality milk for the 1m litre producer is 1.35p/l, with producers supplying below average quality milk losing another 1.6p/l.
Based on a monthly supply of 80,000 litres of milk, this equates to over £1,000 in additional income per month for suppliers with good over-average quality milk, and over £2,300 between those supplying good and below-average quality milk.
In the 350,000-litre rolling average league table, Glanbia Milk and Fivemiletown are paying the highest price for good quality milk at 22.33p/l.
Lakeland has the next highest price of 22.14p/l, followed by Aurivo on 22.04p/l.
The average price paid for good quality milk is 22.02p/l for the 12-month period ending in January 2017, up by 0.7p/l on the 12-month period ending in December 2016. For average quality milk, the 12-month rolling average price was 20.78p/l with Glanbia Milk and Fivemiletown again paying the top price of 21.06p/l, followed this time by Aurivo. Below-average milk quality had an average of 19.22p/l.
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