Kerry Group has confirmed a price for July milk supplies of 37c per litre, Vat included at 3.3% protein and 3.6% butterfat.
The July figure consists of a base price of 34c per litre, and a milk contract payment of 3c per litre on all qualifying milk volumes in the month.Â
Kerry’s July milk price at EU standard constituents of 3.4% protein and 4.2% butterfat is 40.61c per litre.
Based on Kerry’s average milk solids for July, the milk price return inclusive of VAT and bonuses is 40.19c per litre.
A Kerry spokesperson said that the outlook on commodity dairy “continues bearish with further downward pressure on European and global pricing”.Â
“Dairy demand continues to struggle with no sign currently of any near-term correction,” the spokesperson said.Â
“On the supply side, milk production across the major exporters continues in weak positive territory with volumes more than enough to meet subdued demand.”
Kerry’s base price for June milk supplies was 37c per litre.
Lakeland Dairies was the first processor to announce its price for July milk, with the board deciding “on a price which represents market conditions”, of 35.5c per litre in the Republic of Ireland.
This represents a reduction of 1.85c per litre on the June price.
In Northern Ireland, a base price of 28.5p per litre will be paid for milk supplied in July.
This represents a reduction of 1.5p per litre on the June price.
