Kerry Group holds milk price for August
Kerry Group has held its milk price for the month of August, a spokesperson for the southern processor has confirmed.
The processor revealed that the Kerry Group base price for August milk supplies remains unchanged at 29.5c/L including VAT.
Based on average August milk solids, the price return inclusive of VAT and bonuses is 33.55c/L, the spokesperson added.
Last week, Glanbia announced that it cut its milk price for August.
Glanbia will pay its member milk suppliers 28.5c/L including VAT for August manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland (GI) will pay a base milk price for August of 28c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.
This is a reduction of 1c/L from the July base price.
The board of Glanbia Co-op has decided to continue to make a support payment to members of 0.5c/L including VAT for last month’s milk supplies.
Meanwhile, Lakeland also announced its decision to reduce its price for last month’s milk, revealing a reduction of 0.75c/L for August.
Commenting on the price, the co-op said: “Despite the moderation in milk supplies, the global dairy market continues to be hit by weak demand across a range of products as a result of significant Brexit trade uncertainty and US-China trade wars.
“Lakeland will continue to monitor the market closely in the coming week,” the statement concluded.