Kerry Dairy Ireland Announces August Milk Price
Source: DairyNews.today
Kerry Dairy Ireland, a division of the Kerry Group, has confirmed an increased milk price for supplies delivered in August. The processor will pay 45.25c/L, including VAT, based on standard milk constituents of 3.3% protein and 3.6% butterfat. This represents an upward adjustment from the July price of 44c/L and the June price of 42.5c/L, reflecting ongoing positive trends in the dairy market.
At EU standard constituents of 3.4% protein and 4.2% butterfat, the price for August equates to 49.59c/L. Additionally, Kerry’s average milk solids for the month bring the milk price, inclusive of VAT and bonuses, to 51.81c/L.
Kerry Dairy Ireland commented on the prevailing market conditions, noting that “supply-side dynamics continue to bolster dairy markets, with milk volumes across major exporters continuing to fall short of projections.” This shortfall in supply is contributing to sustained price support.
Similarly, Lakeland Dairies has announced an increase in the price paid to its farmers for August milk supplies. The processor has raised its price to 46.5c/L at standard constituents, inclusive of a 0.5c/L Sustainability Incentive Payment. This represents a 1.25c/L increase from the previous month’s price of 45.25c/L.
In Northern Ireland, Lakeland has set a base price of 38.3p/L for August, including a 0.05p/L Sustainability Incentive Payment. This is an increase of 1p/L from the previous month.
Lakeland Dairies highlighted the positive global dairy markets as they enter the crucial demand period for the end of 2024 and early 2025. With milk supplies remaining subdued throughout the year, global market trends are continuing to support dairy prices.
These developments reflect broader market resilience, as processors adjust prices in response to tight supply conditions and robust demand, offering both stability and growth opportunities for dairy farmers heading into the next quarter.
Kerry Dairy Ireland commented on the prevailing market conditions, noting that “supply-side dynamics continue to bolster dairy markets, with milk volumes across major exporters continuing to fall short of projections.” This shortfall in supply is contributing to sustained price support.
Similarly, Lakeland Dairies has announced an increase in the price paid to its farmers for August milk supplies. The processor has raised its price to 46.5c/L at standard constituents, inclusive of a 0.5c/L Sustainability Incentive Payment. This represents a 1.25c/L increase from the previous month’s price of 45.25c/L.
In Northern Ireland, Lakeland has set a base price of 38.3p/L for August, including a 0.05p/L Sustainability Incentive Payment. This is an increase of 1p/L from the previous month.
Lakeland Dairies highlighted the positive global dairy markets as they enter the crucial demand period for the end of 2024 and early 2025. With milk supplies remaining subdued throughout the year, global market trends are continuing to support dairy prices.
These developments reflect broader market resilience, as processors adjust prices in response to tight supply conditions and robust demand, offering both stability and growth opportunities for dairy farmers heading into the next quarter.
