Lakeland increases milk price for January supplies
"The outlook for global dairy markets remains tentatively positive after a period of uncertainty at the start of the year, with buyers at the time taking a reserved position, but global milk supply remains muted."
Lakeland Dairies has confirmed an increased milk price for January supplies.
A base price of 38.9c/litre (3.6% butterfat and 3.3% protein) will be paid for January milk in the Republic of Ireland.
The base price has increased by 1.75c/litre including the new 0.5c/litre sustainability incentive payment.
All suppliers will automatically receive a 1c/litre early calving bonus and will also receive an unconditional 1c/litre input support payment to assist farmers with costs during a challenging winter period.
Overall, the price has increased by 2.75c/litre and the base is now 40.90c/l.
Meanwhile, qualifying farmers will also receive a 5c/litre out-of-season payment.
In Northern Ireland, a base price of 31.75p/litre will be paid for milk supplied in January.
The base price has increased by 1.5p/litre including the new 0.5p/litre sustainability incentive payment.
All suppliers are also automatically receiving the unconditional 1p/litre input support payment to give an all-in price increase of 2.5p/litre to a base of 32.75p/litre.
A Lakeland spokesperson commented: "The outlook for global dairy markets remains tentatively positive after a period of uncertainty at the start of the year, with buyers at the time taking a reserved position, but global milk supply remains muted.
"However, there are geopolitical concerns, supply chain disruptions, and global economic headwinds to be acutely aware of. Lakeland Dairies will continue to closely monitor the markets in the coming weeks."
