Kerry Group has become the latest processor to announce its October milk price, revealing that it has held on from last month’s levels.
The processor announced a base price for October milk supplies remains unchanged at 32c/L including VAT.
Kerry has become the third processor to reveal its price, with all three companies so far holding September figures.
Lakeland Dairies announced yesterday that its suppliers will be paid 32.78c/L including VAT for their October milk supplies.
A lactose bonus of 0.28c/L will also apply for October milk, bringing the effective milk price to 33.06c/L including VAT.
A statement issued by Lakeland Dairies outlined that global dairy market conditions have become “decidedly weaker” in recent months.
The statement explained that milk supplies have generally been strong and were up by 20% in October compared to the same time a year ago.
This is unchanged from the September price.
Commenting, Glanbia chairman Martin Keane said: “As highlighted last month, milk suppliers should be aware that there has been a sharp reduction in dairy market returns which has not been reflected in the base milk price to date.
“The board will continue to monitor developments on a monthly basis,” the chairman added.