Kerry Group has today (Tuesday, September 14) announced its milk price for the month of August.
The base price for August milk supplies is 35c/L (including VAT), at 3.3% protein and 3.6% butterfat.
The price is 38.44c/L (incl. VAT) at EU Standard Constituents 3.4% protein and 4.2% butterfat.
According to the group, based on Kerry’s average milk solids for August, the milk price return inclusive of VAT and bonuses is 38.93c/L.
Other co-ops’ milk price
Kerry Group is the third processor to reveal its price for August milk supplies this week.
Earlier this week, Glanbia announced that it will pay its member milk suppliers 35.6c/L (including VAT) for August creamery supplies, at 3.6% butterfat and 3.3% protein.
This figure is unchanged from last month’s announcement for July milk.
Farmers members will receive a 0.42c/L (including VAT) payment from Glanbia Co-op on all milk supplies this month as their ‘Share of GI Profit’.
The Glanbia Ireland base price and co-op share of profit payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
The Glanbia milk price for August creamery milk based on LTO constituents of 4.2% butterfat and 3.4% protein translates as 38.73c/L.
On Monday (September 13), the board of Lakeland Dairies increased the co-operative’s price for August.
In the Republic of Ireland, Lakeland Dairies confirmed a base price of 36.5c/L, including VAT, for milk at 3.6% fat and 3.3% protein – an increase of 0.5c/L.
In Northern Ireland, Lakeland increased its price for August by 0.3p/L to 29.5p/L.
Global Dairy Trade
Meanwhile, the Global Dairy Trade (GDT) index recorded a strong second lift in index last week, marking back-to-back increases in its latest auction, following on from eight consecutive index falls.
The most recent tender – event 291 – concluded on Tuesday, September 7, with the GDT Price Index up 4%.
Lasting two hours and 21 minutes, the event saw 187 participating bidders take part across 16 bidding rounds, with 114 winning bidders emerging.