Kerry Dairy Ireland, the dairy division of Kerry Group, has today (Friday, November 15) announced an increase in its milk price for October supplies.
The processor said that the milk price for October is 48.5c/L, including VAT, at constituents of 3.3% protein and 3.6% butterfat.
This marks another increase in milk price for Kerry suppliers; up from 47.75c/L last month, 45.25c/L in August, and 44c/L in July.
In terms of EU standard constituents of 3.4% protein and 4.2% butterfat, the price translates to 62.82c/L.
In a statement, Kerry Dairy Ireland said: “Butter and cheese returns continue to underpin milk pricing as an upward trend in milk output is currently being offset by robust demand.”
The Lakeland Dairies board also announced an increase in its milk price this month by 0.6c/L from September.
A base price of 49.6c/L at constituents of 3.6% butterfat and 3.3% protein, will be paid for October milk in the Republic of Ireland (ROI) which is inclusive of the 0.5c/L Sustainability Incentive Payment.
In Northern Ireland (NI), a base price of 40.8p/L will be paid for milk supplied in October which is inclusive of the 0.5p/L Sustainability Incentive Payment. The base price has increased by 0.5p/L from September.
The global dairy markets, having strengthened through quarter three, have stabilised in recent weeks with the supply and demand dynamic largely in balance, according to the processor.
Lakeland Dairies said it will continue to monitor the markets and will endeavour to support its farmers as best it can.