Kerry group announces milk price cut for July supplies
Kerry Group has cut its milk price for July supplies, the third major processor to announce a price cut.
Our Kerry Group base price for July milk supplies is 29.5c/L vat inclusive. Based on average July milk solids, the price return inclusive of vat and bonuses is 32.056c/L.
It's a cut of 1c/L on the June milk price, when it paid a base price for June milk supplies of 30.5c/L (VAT inclusive).
Kerry's milk price cut comes after both Glanbia and Lakeland cut their base milk prices. Glanbia cut its base milk price to 29c/L, while Lakeland cut its to 30.78c/L for Republic of Ireland suppliers.
Both processors, Glanbia and Lakeland, blamed continued uncertainty in global dairy markets and butter markets for the dip in prices.
The chairperson of ICMSA's dairy committee, Ger Quain, said that the Glanbia decision was unwarranted and represented "the usual default response of our co-ops and processors: when in doubt; cut farmer milk price".
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