Kerry Group have followed what the other processors announced last week and increased base milk price by 1c/l.

That brings the October base milk price for Kerry to 35.0c/l ex-VAT at base solids (3.3% protein & 3.6% fat). They also lifted September by 1c/l.

Given that the majority of Kerry milk suppliers are coming to end of lactation with lower volumes and higher fat and protein percentages it means that the average milk price for October will be circa 44.5c/l (ex-VAT) for milk delivered.

Forward pricing

Last week, Kerry announced another fixed milk price scheme to suppliers. The offer price at base solids was 36.5c/l (3.3% protein and 3.6% fat) for 2022.

That was up from 35.5c/l ex-VAT on 20 October for the same period.

Also in October, there was a three-year fixed scheme on the table at 31.3c/l ex-VAT at base solids. Uptake by farmers in these schemes has been poor as forward priced milk gets no top-up.

Last week, Lakeland and Glanbia increased October milk price by 1c/l.