Two more processors have today (Tuesday, August 16th), set their July 2022 milk price.
Firstly, Kerry Group’s base price for July milk supplies will increase to 56c/L (Vat inc.) at 3.30% Prot/3.60% Bfat and 61.28c/L (Vat inc.) at EU Standard Constituents 3.40% Prot/4.20% Bfat.
Based on Kerry’s average milk solids for July, the milk price return, inclusive of VAT and bonuses, is 60.55c/L.
A spokesperson for Kerry Group told That’s Farming:
“As part of our contractual commitment to pay the leading milk price on a like-for-like basis, milk suppliers will receive an additional payment of 0.63c/L (Vat inc.) at Kerry average solids on all qualifying milk supplied June year-to-date.”
“Kerry Group will also make an ex gratia payment equivalent to 0.63c/L (Vat Inc.) at Kerry average solids on milk volume under fixed price contracts for the same period,” the spokesperson concluded.
Meanwhile, Dairygold has increased the July Quoted Milk Price by 2.0cpl to 57.5cpl, based on standard constituents of 3.3% Protein and 3.6% Butterfat, inclusive of bonuses and VAT.
This milk price equates to an average July farm gate milk price of 63.0cpl, based on average July milk solids, achieved by Dairygold milk suppliers.
The quoted milk price for July based on EU Standard constituents of 3.4% protein and 4.2% butterfat is 62.7cpl.
A company spokesperson told That’s Farming:
“Dairy markets have been flat in recent weeks as significant inflation has started to impact demand.”
“The society continues to recognise the significant increases in input costs to milk suppliers in the year and will continue to maximise the value of milk returns to address this challenge.”
“While markets remain firm, the Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis,” the spokesperson concluded.
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