Kerry holds its milk price for August supplies

Kerry has become the latest processor to reveal its milk price for August supplies, announcing an unchanged figure on last month.

The Kerry Group base milk price for August remains unchanged at 32c/L including VAT, a spokesperson for the company said earlier today (Friday, September 14).

This continues a trend set so far this month, with both Lakeland and Glanbia also revealing unchanged prices for their suppliers.

Yesterday Glanbia announced that it will pay its member milk suppliers 32c/L including VAT for August manufacturing milk supplies at 3.6% butterfat and 3.3% protein.

Glanbia Ireland (GI) has increased its base milk price for August from 31c/L to 32c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein. There will be no support payment from Glanbia co-op this month, however.

Glanbia chairman Martin Keane said: “The market outlook remains cautious. The level of milk supply from the main exporting regions will be a key factor determining the price outlook over the coming months.

“The board will continue to monitor developments on a monthly basis.”

Meanwhile, earlier this week Lakeland Dairies decided to hold its price for milk produced last month; it will pay its suppliers 32.78c/L including VAT for the second month in a row.

This follows on from Lakeland’s decision to increase its price by 1c/L for July milk.

While milk powder prices have improved, butter prices have weakened “significantly” in the past month, the processor outlined.