Kerry Group has today (Monday, February 19), become the latest processor to announce its milk price for January supplies.
The processor said it will pay 39.5c/L, including VAT, for milk supplied last month at 3.30% protein and 3.60% butterfat.
This consists of a base price of 37c/L, including VAT, and a milk contract payment of 2.5c/L, including VAT, on all qualifying milk volumes.
The January milk price at EU standard constituents of 3.4% protein and 4.2% butterfat is 43.3c/L, the processor said.
Based on Kerry Group’s average milk solids for January, the milk price return inclusive of VAT and bonuses is 46.7c/L.
“Dairy markets remain volatile and without definite direction, with sluggish demand hampering the impact of bullish sentiment around lower milk supplies.
“Chinese consumer confidence is low and European origin product is now at a disadvantage into Asia as a result of the ongoing shipping issues through the Suez,” a Kerry Group spokesperson said.
Milk price
Meanwhile, Tirlán has said it will pay a total of 41.08c/L, including VAT, for January creamery milk supplies at 3.6% butterfat and 3.3% protein.
The price includes a Seasonality Payment of 4c/L, including VAT, which will be paid on all creamery milk volumes supplied in January that meet quality criteria.
Carbery increased its base milk price by 1c/L, and is also continuing to support the milk price from its Stability Fund with a contribution of 2c/L.
If this decision is replicated across the four west Cork co-ops; Bandon, Barryroe, Drinagh and Lisavaird, this will result in an average price of 40.05c/L.
This price is inclusive of VAT, 0.5c/L Somatic Cell Count (SCC) bonus, FutureProof sustainability bonus and Stability Fund support.