Lakeland milk price increases by 2c
A Lakeland spokesperson said that after a challenging year in the industry, there are signs of improving sentiment in the global dairy markets.
Lakeland Dairies has increased its milk price for November supplies.
A base price of 36c/litre (3.6% butterfat and 3.3% protein) will be paid for November milk in the Republic of Ireland, an increase of 2c/litre.
Qualifying farmers will also receive a 3c/litre out-of-season payment.
In Northern Ireland, a base price of 29.25p/litre will be paid for milk supplied in November.
The base price has increased by 2p/litre plus the usual out-of-season payment of 3p/litre.
A Lakeland spokesperson said that after a challenging year in the industry, there are signs of improving sentiment in the global dairy markets.
"The global supply and demand dynamic remains delicately poised as we come out of the peak production season in New Zealand and move halfway through the key dairy buying period of quarter four 2023 and quarter one 2024," the spokesperson said.
"Overall, however, the key signals are showing positivity. Lakeland Dairies will continue to monitor the markets closely in the time ahead."
Lakeland is the first processor to confirm its price for November milk.
This increase in prices comes after significant drops this year.
According to the CSO, in the 12 months to October 2023, milk prices dropped by 38.3%.
