Kerry increases milk price as production remains under pressure due to weather

"Commodity prices have settled with general stability in the global dairy market, however, there is a continued cautious approach being adopted by buyers at present with no strong surge in demand."

The Kerry Group milk price for March supplies is 41c/litre, up 1c/litre on the previous month.

The March price consists of a base price of 39c/litre and a milk contract payment of 2c/litre on all qualifying milk volumes.

The milk price at EU standard constituents of 3.4% protein and 4.2% butterfat is 44.96c/litre.

Based on Kerry’s average milk solids for March, the milk price return inclusive of Vat and bonuses is 44.08c/litre.

A Kerry spokesperson said that milk production in Europe "remains under pressure due to very wet weather". 

"This is providing support for dairy markets despite much uncertainty remaining around demand," the spokesperson added.

Lakeland price

Lakeland Dairies has confirmed a base price of 41.9c/litre for March milk in the Republic of Ireland. 

The base price has increased by 0.5c/litre and also includes the 0.5c/litre sustainability incentive payment. 

A separate 1c/litre input support payment is being paid on top of the base price. 

The all-in base price for suppliers is 42.9c/litre for milk supplied in March.

In Northern Ireland, a base price of 34.5p/litre will be paid for milk supplied in March. 

The base price has increased by 0.5p/litre and also includes the 0.5p/litre sustainability incentive payment. 

A 0.8p/litre input support payment will be paid to all suppliers. The all-in price for suppliers is 35.3p/litre for March.

Feed support 

Lakeland is offering support for farmers purchasing feed through Lakeland Dairies Agribusiness. 

The €20/tonne and £20/tonne feed rebate in place since November has been increased to €30/tonne and £30/tonne. 

A separate €10/tonne and £10/tonne support for straights has been introduced to support farmers in stretching silage stocks.

A Lakeland spokesperson said that difficult weather conditions in Ireland are also having an impact on farmers across Europe. 

"As a result, spring milk volumes are tempered thus far albeit it is still early in the spring milk season. This is helping to maintain a delicate balance between supply and demand," the spokesperson said.

"Commodity prices have settled with general stability in the global dairy market, however, there is a continued cautious approach being adopted by buyers at present with no strong surge in demand.

"We fully recognise the pressure the continued inclement weather is having on farmers and their businesses."