Kerry Group has held its milk price for October supplies at 35c/litre.
This consists of a base price of 32c/litre and a milk contract payment of 3c/litre on all qualifying milk volumes.
The October milk price at EU standard constituents (3.4% protein and 4.2% butterfat) is 38.44c/litre.
Based on Kerry’s average milk solids for October, the milk price return inclusive of Vat and bonuses is 44.94c/litre.
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A Kerry spokesperson said that sentiment across dairy markets “is slightly more bullish at present, with dairy commodity prices starting to reflect some positivity”.
“Dairy futures for 2024, while displaying significant volatility, are still trading at a premium to the physical market,” the spokesperson added.
Dairygold has also this week confirmed its October milk price.
It has maintained the price at 33.5c/litre, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and Vat.
The October milk price equates to an average October farm gate milk price of 44.2c/litre, based on average October milk solids, achieved by Dairygold milk suppliers.
The quoted milk price for October based on EU standard constituents of 3.4% protein and 4.2% butterfat is 36.6c/litre.
A company spokesperson commented that “global milk markets have shown continued signs of stabilisation in recent weeks based on a rebalancing of supply and demand”.
“The Dairygold board will continue to closely monitor markets and review milk price on a month-by-month basis,” the spokesperson added.
Lakeland was the first processor to announce its price.
A base price of 34c/litre (3.6% butterfat and 3.3% protein) will be paid for October milk supplies in the Republic of Ireland.
The base price is unchanged from the price paid in September and August.
In Northern Ireland, a base price of 27.25p/litre will be paid for milk supplied in October.
Again, the base price has been held for October supplies.
Latest CSO figures show that in the 12 months to September 2023, milk price dropped 37.4% after the record highs seen throughout 2022.
Other output price decreases in the 12 months to September 2023 included in cereals (31.6%), and cattle (1%).
Increases were recorded in potatoes (38%), eggs (14.2%), vegetables (13.4%), and pig prices (9.6%).
