Kerry Dairy Ireland has set its February milk price at 52.47 cent per litre (c/l), including VAT.
This represents a decrease of just over 1c/l compared to the January price of 53.5c/l.
The February price includes a base-price top-up of 1 c/l, plus quality and sustainability bonuses.
Based on the average standard of milk supplied to Kerry Dairy Ireland in February, the average milk price, inclusive of VAT and bonuses, was 60c/l.
At EU standard constituents (of 3.40% protein and 4.20% butterfat), the milk price is 57.31 cent per litre (c/l), including VAT.
In its monthly milk price report, the milk processor noted that while demand for butter and cheese remains strong, demand for powders is weaker.
It added that the European milk production season began slowly but is expected to pick up in the short term, potentially putting downward pressure on prices.
