Processors confirm February milk prices

A Kerry spokesperson said that dairy buyers "remain cautious, but global consumer demand is improving which should lead to improved dairy demand". 

Kerry Group has confirmed its milk price for February supplies.

Kerry will pay 40c/litre at 3.3% protein and 3.6% butterfat.

This price consists of a base price of 38c/litre, up 1c from last month, and a milk contract payment of 2c/litre on all qualifying milk volumes. 

The February milk price at EU standard constituents of 3.4% protein and 4.2% butterfat is 43.88c/litre.

Based on Kerry’s average milk solids for February, the milk price return inclusive of Vat and bonuses is 45.35c/litre.

A Kerry spokesperson said that dairy buyers "remain cautious, but global consumer demand is improving which should lead to improved dairy demand". 

"Milk production growth is sluggish leading to optimism around dairy prices in the medium term," the spokesperson said.

Dairygold price

Dairygold has increased its February quoted milk price by 2c/litre to 40c/litre.

In addition, the February early calving bonus of 2.1c/litre will be paid on milk supplied in February, thereby increasing the attainable Dairygold milk price to 42.1c/litre, at standard constituents.

The February price equates to an average February farm gate milk price of 47.7c/litre, based on the average February 2024 milk solids.

The quoted milk price for February, based on EU standard constituents, is 45.7c/litre, including the early calving bonus and inclusive of Vat.

A company spokesperson commented that dairy market prices have "marginally improved recently primarily due to a decrease in global milk supply, but with demand remaining challenging, future pricing forecasts remain uncertain". 

Tirlán milk price

Tirlán has confirmed it will pay a total of 42.08c/litre for February creamery milk supplies at 3.6% butterfat and 3.3% protein.

The February milk price consists of a base milk price of 38.58c/litre, an increase of 2c/litre, a seasonality payment of 3c/litre, and a sustainability action payment of 0.5c/litre to all qualifying suppliers.

The base price, seasonality payment and sustainability action payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

The Tirlán total price for February creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 45.71c/litre.

Tirlán chairman John Murphy said that while dairy markets are generally stable, the board is "acutely aware of the severe challenges facing our milk suppliers this year as ongoing wet weather makes grazing conditions very difficult". 

"The February rainfall total at weather stations in the south-east was 50%-80% higher than the long-term average," Mr Murphy said.

"This is having a significant impact on milk supply and creating very challenging conditions for farmers, with yields per cow 10% lower than the same period last year."

GAIN dairy feed weather support

Mr Murphy also announced a €30 per tonne rebate on the GAIN dairy feed range.

It will apply on all GAIN dairy feed delivered to Tirlán milk suppliers between March 15 and 30, 2024.

The offer is being introduced to support milk suppliers through early lactation to achieve peak production and assist following the difficult weather period.