Kerry Group Announces January Milk Price Amidst Volatile Dairy Markets
Source: The DairyNews
On Monday, February 19, Kerry Group revealed its milk price for January supplies, joining the ranks of processors updating their pricing in the volatile dairy industry. The processor confirmed a payment of 39.5c/L, including VAT, for milk supplied in January with 3.30% protein and 3.60% butterfat.
This breakdown comprises a base price of 37c/L, including VAT, and a milk contract payment of 2.5c/L, including VAT, applicable to all qualifying milk volumes. In comparison, the January milk price at EU standard constituents of 3.4% protein and 4.2% butterfat stands at 43.3c/L, according to Kerry Group.
The processor acknowledged the ongoing volatility in dairy markets, citing uncertain directions and sluggish demand as factors impacting the bullish sentiment surrounding lower milk supplies. Issues such as low Chinese consumer confidence and shipping disruptions through the Suez Canal have added complexities to the market dynamics.
Kerry Group's spokesperson emphasized, "Dairy markets remain volatile and without definite direction," highlighting the challenges faced by the industry.
In a related development, Tirlán announced a total payment of 41.08c/L, including VAT, for January creamery milk supplies with 3.6% butterfat and 3.3% protein. Carbery also increased its base milk price by 1c/L and continued to support the milk price from its Stability Fund with a 2c/L contribution. If replicated across west Cork co-ops Bandon, Barryroe, Drinagh, and Lisavaird, this decision would result in an average price of 40.05c/L, inclusive of various bonuses and support.
The processor acknowledged the ongoing volatility in dairy markets, citing uncertain directions and sluggish demand as factors impacting the bullish sentiment surrounding lower milk supplies. Issues such as low Chinese consumer confidence and shipping disruptions through the Suez Canal have added complexities to the market dynamics.
Kerry Group's spokesperson emphasized, "Dairy markets remain volatile and without definite direction," highlighting the challenges faced by the industry.
In a related development, Tirlán announced a total payment of 41.08c/L, including VAT, for January creamery milk supplies with 3.6% butterfat and 3.3% protein. Carbery also increased its base milk price by 1c/L and continued to support the milk price from its Stability Fund with a 2c/L contribution. If replicated across west Cork co-ops Bandon, Barryroe, Drinagh, and Lisavaird, this decision would result in an average price of 40.05c/L, inclusive of various bonuses and support.
