May milk cheques on the average Irish dairy farm will exceed €40,000, with many processors deciding in recent days to lift May milk prices by 2c/l.

With improving milk solids, higher milk price and tighter global milk supply, the forecast for June milk price improving further is also positive. Across Europe many of the larger dairies have already increased June milk price by 3c/l to 4c/l.

Kerry Group announced a 2c/l increase in base May milk price to 48.8c/l excluding VAT ahead of gathering in Listowel for 50th anniversary celebrations last week.

Glanbia also lifted its price by 2c/l to 49.6c/l excluding VAT, increasing its bonus from 3c/l to 5c/l so that farmers tied in to fixed-milk-price contracts could get a better slice of the improving milk price.

The Lakeland Dairies board met on Monday and lifted milk price by 2c/l to 49.4c/l excluding VAT at base milk solids.