Lakeland Dairies increases base price to 34 p/l

Suppliers in Northern Ireland will receive a base price of 34p/l (at base solids) for milk supplied in February. This represents a 1.25p/l increase to the price including the new 0.5p/l Sustainability Incentive Payment. The 1p/l Input Support Payment paid on all January milk now forms part of the base price for February milk.

A base price of 41.40/litre (3.6% butterfat and 3.3% protein) will be paid for February milk in the Republic of Ireland. The price has increased by 1.5c/l including the new 0.5c/l Sustainability Incentive Payment. The 1c/l Input Support Payment paid on all January milk also now forms part of the base price for February milk.

All ROI supplies are also receiving an unconditional 2c/l early calving bonus taking the ROI price to 43.40c/l. Meanwhile, qualifying farmers, who meet very specific volume and milk quality criteria, will also receive the usual out-of-season payment of 5c/l.

A Lakeland spokesperson stated: “Global dairy markets remain in a delicate position with the supply/demand dynamic tentatively poised. Buyers are continuing to adopt a cautious approach but demand remains reasonably solid driven by weaker production in Europe and New Zealand.

“As we approach the critical spring season in Europe, milk supply is expected to remain sluggish which should assist in providing stability to the market. Geopolitical tensions, supply chain disruptions and global economic headwinds remain a concern and will require careful management and monitoring. Lakeland Dairies will continue to closely monitor the markets in the coming weeks.”