Suppliers of Kerry will receive a base price of 44c/L (inclusive of VAT) at 3.3 per cent protein and 3.6 per cent butterfat, down from last month’s 50c/L, with the same protein and butterfat percentages.
Kerry’s price, based on European (EU) standard constituents of 3.4 per cent protein and 4.2 per cent butterfat is 48.23c/L (inclusive of VAT). Last month, this was 54.76 with the same protein and butterfat percentages.
Based on Kerry’s average milk solids for February, the milk price return (inclusive of VAT and bonuses) is 50.66c/L. Last month, this was 58.84c/L.
Lakeland
Lakeland confirmed this week that it had reduced its February milk price to 46.85c/L (inclusive of VAT) at 3.6 per cent butterfat and 3.3 per cent protein. This price includes an Input Support Payment of 1.5c/L (inclusive of VAT) for all suppliers.
In Northern Ireland, it reduced the milk price by 4p/L to 38.5p/L. This price includes a supplementary Input Support Payment of 1.5p/L.
A spokesperson commented that although markets firmed somewhat over the past month, this has come from a low-level base of current prices.
“Generally weaker conditions have continued due to higher global milk supplies and fluctuating demand from dairy buyers. This is against a backdrop of economic uncertainty with ongoing inflationary pressures impacting consumer, trade and manufacturing requirements for dairy products and ingredients. Overall, outcomes remain unpredictable and there is continuing variability which will remain a feature of global markets for the immediate period ahead.
“Lakeland Dairies will seek constantly to maximise returns for milk suppliers and will pay as competitive a milk price as possible in line with market conditions.”