Kerry Group was first out of the traps to set April milk price, holding the same as it paid in March at 32.3 c/l ex VAT at 3.3% protein and 3.6% fat.
Glanbia followed yesterday again holding at the March price of 32.8 c/l ex VAT at 3.3% protein and 3.6% fat. That’s a base of 32.35 c/l plus the share of GI profit.
There were expectations that April milk price would increase again given that the Ornua PPI lifted again last week and markets remain strong.
Holding the April price in Kerry means its base price is 2.5 c/l off the Ornua equivalent price. Kerry is not a member of Ornua, but it does some trade and business with Ornua.
The Ornua purchasing price index (PPI) for April was up to 115.1, which is the equivalent of 34.7 c/l base ex VAT at base solids once the Ornua premium is included.
A number of the big processors are reporting milk supply well ahead of the same period last year. Lakeland is up 10% on April last year, Dairygold is up 5.5% on April, and Aurivo is up 7%.