Dairy Crest reveals November milk prices
Dairy Crest confirms that it will hold the November milk price for its farmers on standard liquid contracts.
The average price paid to Dairy Crest’s non-aligned liquid farmers is currently 2.5 ppl (€0.34), this is a weighted average of Dairy Crest’s standard liquid milk price, 21.69 ppl, and the Dairy Crest’s formula contract, which for October is calculated at 27.27 ppl.
Dairy Crest is also providing additional details of the payment of financial support for farmers announced by two of its retail customers, Morrisons and Lidl. They have commited to DCD that it will pass all monies received from retailers through to farmers. This will be distributed through a farmer support payment, supplementary to the price paid for raw milk.
The supplementary payment will be calculated based on the actual volume of processed milk purchased by Morrisons and Lidl and the actual volume of raw milk purchased for Dairy Crest for the relevant month. It is anticipated that the first supplement for October is estimated at 0.39 ppl. The November supplement is estimated at 0.65 ppl.
Mike Sheldon, managing director of Dairy Crest’s Dairies business comments, “Dairy Crest recognises the challenges facing our farmers and we have worked hard to deliver price stability in what remains an extremely volatile and tough environment for us all in the dairy sector.
“I am pleased to announce further details regarding retailer support for dairy farmers. This is positive news for farmers who are facing a particularly difficult winter.”
