The board of Dairygold Co-Operative Society Limited has today (Thursday, January 16) announced that its quoted milk price will be maintained for December, and the board approved year-end payments to milk and grain suppliers.

The processor has decided to hold its price at 50c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and VAT.

The December milk price equates to an average farm gate milk price of 64.8c/L, based on the average December 2024 milk solids, achieved by Dairygold milk suppliers.

The quoted milk price for December, based on EU standard constituents of 3.4% protein and 4.2% butterfat, is 54.5c/L, inclusive of VAT.

A spokesperson for Dairygold said: “Dairy market returns were balanced in December with demand seasonally quiet and global milk supply generally flat year-on-year. The Dairygold Board will continue to monitor markets closely and review milk price on a monthly basis”.

At its meeting today, the board also assessed the society's 2024 financial performance, and confirmed that all contracted milk suppliers will receive a 0.5c/L additional payment, including VAT on 2024 milk supply.

Meanwhile all grain suppliers will receive an additional €3 /t, excluding VAT, on 2024 grain supply, excluding contracted malting barley and beans.

The board stated that it will continue to ensure that the "best possible" milk and grain prices are paid to its suppliers throughout the year, in line with Dairygold’s everyday goal of maximising farmer income.

The board also agreed to continue to engage with its membership on the recent changes to the loyalty reward scheme.

Dairygold stated that "the majority of members have reacted positively to the proposed changes", however noted that concerns were expressed regarding one element of the scheme, linking potential year-end milk payments to the level of purchases.

The board has said it will engage further with its membership base, committee structure and member focus group to discuss the element. It said that feedback from these engagements will be reviewed by the board, "in the near future".