Lakeland increases July milk price
A Lakeland spokesperson said that the global dairy market returns have "improved month-on-month, with butter markets in particular showing increased returns from last month".
Lakeland Dairies has announced an increase in its milk price for July.
A base price of 45.25c/litre (3.6% butterfat and 3.3% protein) will be paid for July milk in the Republic of Ireland which is inclusive of the 0.5c/litre sustainability incentive payment.
The base price has increased by 1.75c/litre from last month.
In Northern Ireland, a base price of 37.3p/litre will be paid for milk supplied in July which is inclusive of the 0.5p/litre sustainability incentive payment.
The base price has increased by 1.5p/litre from last month.
A Lakeland spokesperson said that global dairy market returns have "improved month-on-month, with butter markets in particular showing increased returns from last month".
"Lakeland Dairies will continue to monitor the markets and will endeavour to support our farmers as best we can," the spokesperson said.
"If they have not done so already, we are encouraging farmers to carry out a fodder survey to get an accurate picture of feedstocks on their farm.
"If deficits have been identified, we are strongly advising farmers to take action. Our member relations as well as agribusiness advisors are ready to help and support farmers where necessary."
Irish Farmers' Association dairy chairman Stephen Arthur said it is "imperative" that milk processors deliver a significant price increase for July supplies.
“Cashflow continues to be a major issue on many dairy farms due to ongoing high costs. We need processors to step up and play their part to help alleviate some of those pressures at farm level,” Mr Arthur said.
“There is clearly capacity for milk price to significantly increase; dairy co-op board members meeting to set their July milk price need to follow the lead set by Lakeland Dairies and deliver a strong increase to their base milk price in line with market returns.
"The coming months offer dairy farmers a chance to improve their balance sheet, but they can only do this if their processors step up with a strong milk price."
