Kerry hold October milk price, while Lakeland announce slight increase
Kerry Group has held its price for October milk supplies.
Kerry Group base price for October milk supplies remains unchanged at 29.5 cent per litre vat inclusive. Based on average October milk solids, the price return inclusive of vat and bonuses is 37.5 cent per litre.
This comes as Lakeland Dairies set a price of 30.31c/l (including VAT and Lactose bonus) for milk supplied in October. This is a slight increase on the price of 30.03c/l paid for September milk.
In Northern Ireland, a price of 24.50p/l will be paid for October supplies.
A spokesperson for the co-op welcomed the stability in global dairy markets in recent weeks.
“This stability comes after months of price falls for products, especially butter. There continues to be significant uncertainty for butter.
“Steady demand and easing in milk production in the main diary production markets is contributing to the price stability. However, uncertainties such as a lack of clarity on Brexit and ongoing global trade disputes need to be considered in the longer term."
Meanwhile, Glanbia also announced this week that its base price would remain the same as the month of September.
Glanbia will pay its member milk suppliers 29 cent per litre including VAT for October manufacturing milk supplies at 3.6pc butterfat and 3.3pc protein.
Glanbia Ireland (GI) will pay a base milk price for October of 28 centre per litre including VAT, for manufacturing milk at 3.6pc fat and 3.3pc protein.
The board of Glanbia Co-op has decided to continue to make a support payment to members of 1.0 cet per litre including VAT for October milk supplies.
The Glanbia Ireland base price and the Glanbia Co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
Speaking on the announcement Glanbia Chairman Martin Keane said: “There has been a welcome improvement in the price of dairy proteins on global markets, while cheese is stable and the European butter market remains fragile.
“Overall markets have reacted to seasonal demand and the moderate rate of global milk supply growth in the year to date. The Board will continue to monitor developments on a monthly basis.”
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