Kerry Group’s milk price for August supplies has been confirmed as 35c per litre, at 3.3% protein and 3.6% butterfat.
This consists of a base price of 32c per litre (Vat included), down 2c from last month’s price, and a milk contract payment of 3c per litre on all qualifying milk volumes.Â
Kerry’s August milk price at EU standard constituents 3.4% protein and 4.2% butterfat is 38.44c per litre.
Based on Kerryâs average milk solids for August, the milk price return inclusive of Vat and bonuses is 39.8c per litre.
A Kerry spokesperson commented: “The short- to medium-term outlook on commodity dairy continues bearish with little sign of any demand-side correction in the offing.Â
“The supply side across the major exporting regions has been more robust than anticipated year-to-date with signs of more significant softening just becoming apparent.”
Lakeland Dairies was the first processor to confirm its milk price for August supplies.
Lakeland’s base price is 34c.
Its price represents a reduction of 1.5c per litre on the July price. The average payout for August milk in the Republic of Ireland is 38c per litre.
In Northern Ireland, a base price of 27.25p per litre will be paid for milk supplied in August. This represents a reduction of 1.25p per litre on the July price. The average payout is 29.5p per litre.
A Lakeland spokesperson said that the global dairy market “remains under pressure with resilient supplies being met by continued weak demand”.
“Sentiment and activity among buyers remain subdued which is being heightened by weakening economies in parts of the world,” the spokesperson said.
“Lakeland continues to closely monitor the markets in order to return the best price possible.”
