Kerry Group and Lakeland Dairies Raise Milk Prices Amidst Challenging Conditions
Source: The DairyNews
Kerry Group and Lakeland Dairies have both announced increases in milk prices for March supplies, reflecting the ongoing challenges faced by dairy farmers amidst adverse weather conditions.
Kerry Group revealed that their March milk price will be 41.0 c/L, inclusive of VAT, representing an uptick from February's 40 c/L. This price is attributed to 3.30 pc protein and 3.60 pc butterfat, comprising a base price of 39c/L and a milk contract payment of 2c/L on qualifying volumes. With the inclusion of bonuses, the return for March averages at 44.08 c/L.
A spokesperson from Kerry Group highlighted the pressure on milk production in Europe due to persistently wet weather, offering support to dairy markets amid lingering demand uncertainties.
Meanwhile, Lakeland Dairies announced a milk price of 42.9c/L for March, which includes the introduction of an input support payment of 1c/L and a base increase of 0.5c/L. The breakdown comprises a base price of 41.9c/L with 3.6 pc butterfat and 3.3 pc protein in the Republic of Ireland, and a base price of 34.5p/L in Northern Ireland.
The spokesperson from Lakeland Dairies echoed similar sentiments regarding the impact of adverse weather conditions, noting the moderation of spring milk volumes across Europe, albeit still early in the season. This situation helps maintain a delicate equilibrium between supply and demand.
While commodity prices exhibit stability in the global dairy market, cautious buying behavior persists among buyers, with no notable surge in demand observed.
To alleviate the pressure on farmers, Lakeland Dairies has introduced an Input Support Payment for the second time this year, alongside enhancements and extensions to existing support schemes, acknowledging the continued challenges faced by farmers and their businesses.
A spokesperson from Kerry Group highlighted the pressure on milk production in Europe due to persistently wet weather, offering support to dairy markets amid lingering demand uncertainties.
Meanwhile, Lakeland Dairies announced a milk price of 42.9c/L for March, which includes the introduction of an input support payment of 1c/L and a base increase of 0.5c/L. The breakdown comprises a base price of 41.9c/L with 3.6 pc butterfat and 3.3 pc protein in the Republic of Ireland, and a base price of 34.5p/L in Northern Ireland.
The spokesperson from Lakeland Dairies echoed similar sentiments regarding the impact of adverse weather conditions, noting the moderation of spring milk volumes across Europe, albeit still early in the season. This situation helps maintain a delicate equilibrium between supply and demand.
While commodity prices exhibit stability in the global dairy market, cautious buying behavior persists among buyers, with no notable surge in demand observed.
To alleviate the pressure on farmers, Lakeland Dairies has introduced an Input Support Payment for the second time this year, alongside enhancements and extensions to existing support schemes, acknowledging the continued challenges faced by farmers and their businesses.
