Kerry Group has set its base for December milk at 34.3c/l excluding VAT for supplies at 3.3% protein and 3.6% fat.

This is a slight rise on November’s base price of 30.5c/l (ex VAT) when adding the milk contract payment of 2.9c/l (ex VAT) paid on qualifying supplies.

Prices had remained at this level since August, when a 1c/l cut was announced.

The average price paid to suppliers in December will come to 43.3c/l (ex VAT), based on the typical constituents and bonuses paid on milk supplied.

The processor maintains that despite the strength seen in dairy commodity markets towards the end of 2023, markets continue to seek a definitive trajectory in 2024.

“The prevailing uncertainty primarily revolves around the demand outlook, with a particular emphasis on the dynamics within the Chinese market,” Kerry Group stated when announcing December’s price.