Carbery Group has maintained its milk price for the month of January.

Carbery has also agreed to pay, from the broader business, an additional market support payment of 2.5c/L to shareholders.  

If this decision is replicated across the four west Cork co-ops of Bandon, Barryroe, Drinagh and Lisavaird, this will result in an average milk price of 39.1c/L.

This is inclusive of the market support payment, VAT, 0.88c/L, SCC (somatic cell count) bonus and FutureProof sustainability bonus. 

A spokesperson for Carbery said: “International dairy markets appear to have stabilised in the last few weeks.

"However, returns continue to be challenging and markets are not delivering the margin needed to meet current base milk price.

"Carbery is closely observing market developments and has agreed this market support payment to mitigate the pricing gap for farmer shareholders for January milk."

January milk prices

Carbery is the latest to announce its January milk price.

Lakeland Dairies also held its January milk price and introduced an input support.

Kerry Dairy Ireland said that it will pay a base price top up as part of its milk price for January.

Dairygold held its January milk price and confirmed an early calving payment.

The Irish Creamery Milk Suppliers' Association (ICMSA) ahead of milk price announcements had said there would be "no justification" for reductions.

ICMSA dairy committee chairperson Noel Murphy said: "Markets have stabilised in the last six weeks and shown enough positive indicators in that time to suggest that the bottom of the market has been reached."