Union Dairy Company tight-lipped about bonus

UDC representative Dean McKenna provided a $6.05kg/MS opening price to The Weekly Times and said it included a 25 cents a kilogram of milk solids “sign-on bonus”.

The Weekly Times asked what the sign-on bonus involved — such as signing on for one year or three years — but Mr McKenna would not provide any details.

“I will not go into that,” he said. “We don’t live through the media.”

The South Australian-based processor collects milk for its Penola plant in South Australia and into southwest Victoria.

The business is collecting milk for its second season of processing.

UDC is a joint venture between Warrnambool’s the Midfield Group, most known for its meat processing, and Louis Dreyfus Company Dairy Asia, a wholly owned subsidiary of Louis Dreyfus Company Asia.

Most processors have announced opening prices in the past week.

Australia’s largest processor Saputo opened at $5.75/kgMS last Tuesday, Fonterra followed on Thursday at $5.85/kgMS and then Bega Cheese on Monday at $5.85/kgMS — plus sign-on bonuses of 25c/kgMS or 50c/kgMS depending on if the supplier chose to sign for one or three years.

Australian Consolidated Milk lifted its opening on Monday from $5.90/kgMS to $6/kgMS and added money to its spring price. Bulla Dairy Foods had increased its opening by 20c/kgMS earlier in the month.

The new supply season begins on Sunday.

By: SIMONE SMITH

Source: The Weekly Times

Link: https://www.weeklytimesnow.com.au/agribusiness/dairy/farmgate-milk-price-union-dairy-company-tightlipped-about-bonus/news-story/b798087b2b79d11fe8b64bfecc3f7256

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