This puts its manufacturing standard litre of 4.2% butterfat and 3.4% protein at 49.69p/litre.
This puts its manufacturing standard litre of 4.2% butterfat and 3.4% protein at 49.69p/litre.
A standard liquid litre will increase by the same amount, to 48.02p/litre based on 4% butterfat and 3.3% protein.
Prices include a 0.5p/litre member premium, paid as a 13th payment, due in April 2023 for those who have reached their capital target, as well as the new 0.5p/litre regenerative farming bonus introduced in April 2022, according to milkprices.com.
This is now the eighth consecutive monthly price increase and puts prices up by 18.39p/litre compared with November 2021 levels.
Cheesemaker Barber’s is increasing its farmgate manufacturing price by 0.6p/litre for November, based on 4.1% butterfat and 3.28% protein.
When applied to the milkprices.com manufacturing litre of 4.2% butterfat and 3.4% protein, this delivers a price of 50.03p/litre.
In a letter to suppliers, Michael Masters, head of milk supply operations, said if this new level of milk price for November 2022 is applied to the same level of average constituents supplied for November 2021, this will deliver a milk price of 53.89p/litre for producers.
Prices for the year to date to November are up by 17.09p/litre.
A standard liquid litre of 4% butterfat and 3.3% protein will also increase by 0.6p/litre to 48.33p/litre.
Mr Masters said: “This will surely be regarded as an ‘exceptional year’ in the world of dairy markets and the multiple international factors that have so significantly impacted milk supply versus demand.
“Despite these pressures, throughout the year we have continued to commit to review our milk price as soon as any additional returns are available. This is to support our dedicated milk supplies to meet our growing domestic and global sales requirements.”
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