Kerry Dairy Announces July Milk Price
Source: DairyNews.today
Kerry Dairy Ireland, a key division of Kerry Group, has officially confirmed the milk price it will offer to farmers for July supplies, signaling a positive shift in market conditions.
For July, Kerry Dairy has set the milk price at 44c per liter, inclusive of VAT, based on standard constituents of 3.3% protein and 3.6% butterfat. This marks an increase from the June price of 42.5c per liter, reflecting a stronger market position.
When adjusted to EU standard constituents of 3.4% protein and 4.2% butterfat, the price translates to 48.23c per liter. Kerry Dairy further indicated that the average price return, considering the typical milk solids supplied for July, stands at 48.32c per liter, inclusive of VAT and applicable bonuses.
The company highlighted the continued strength in butter prices as a significant contributor to bolstering dairy market returns. "The demand landscape remains largely stable, with robust demand outside of China, while demand from China continues to show signs of weakness," Kerry Dairy stated, providing insight into the global market dynamics influencing these price adjustments.
This announcement follows closely on the heels of Lakeland Dairies' disclosure of their July milk price. On Wednesday, August 13, Lakeland confirmed an increase in the base price for milk supplied in July, set at 45.25c per liter for the Republic of Ireland, based on standard constituents of 3.6% butterfat and 3.3% protein. This price includes a 0.5c per liter Sustainability Incentive Payment and represents a 1.75c per liter increase from the previous month.
In Northern Ireland, Lakeland will pay a base price of 37.3p per liter for July supplies, also inclusive of the 0.5c per liter Sustainability Incentive Payment, reflecting a 1.5p per liter increase from June.
Lakeland Dairies noted that global dairy market returns have shown month-on-month improvement, with the butter markets, in particular, delivering increased returns. The cooperative reiterated its commitment to supporting farmers, stating, "Lakeland Dairies will continue to monitor the markets and will endeavor to support our farmers as best we can."
Additionally, Lakeland has advised farmers to conduct fodder surveys to accurately assess feed stock levels on their farms. "If deficits have been identified, we strongly advise farmers to take prompt action," the processor emphasized.
When adjusted to EU standard constituents of 3.4% protein and 4.2% butterfat, the price translates to 48.23c per liter. Kerry Dairy further indicated that the average price return, considering the typical milk solids supplied for July, stands at 48.32c per liter, inclusive of VAT and applicable bonuses.
The company highlighted the continued strength in butter prices as a significant contributor to bolstering dairy market returns. "The demand landscape remains largely stable, with robust demand outside of China, while demand from China continues to show signs of weakness," Kerry Dairy stated, providing insight into the global market dynamics influencing these price adjustments.
This announcement follows closely on the heels of Lakeland Dairies' disclosure of their July milk price. On Wednesday, August 13, Lakeland confirmed an increase in the base price for milk supplied in July, set at 45.25c per liter for the Republic of Ireland, based on standard constituents of 3.6% butterfat and 3.3% protein. This price includes a 0.5c per liter Sustainability Incentive Payment and represents a 1.75c per liter increase from the previous month.
In Northern Ireland, Lakeland will pay a base price of 37.3p per liter for July supplies, also inclusive of the 0.5c per liter Sustainability Incentive Payment, reflecting a 1.5p per liter increase from June.
Lakeland Dairies noted that global dairy market returns have shown month-on-month improvement, with the butter markets, in particular, delivering increased returns. The cooperative reiterated its commitment to supporting farmers, stating, "Lakeland Dairies will continue to monitor the markets and will endeavor to support our farmers as best we can."
Additionally, Lakeland has advised farmers to conduct fodder surveys to accurately assess feed stock levels on their farms. "If deficits have been identified, we strongly advise farmers to take prompt action," the processor emphasized.
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