Lakeland Dairies increases March base milk price
The Lakeland Dairies Board has agreed to increase the price for milk for the month of March by 2.55p/l.
A base price of 28.85p/l (at base solids) will be paid in Northern Ireland for milk supplied in March which is inclusive of the 0.5p/l Sustainability Incentive Payment.
A base price of 36.25c/l (3.6% butterfat and 3.3% protein) will be paid for March milk in the Republic of Ireland (ROI) which is inclusive of the 0.5c/l Sustainability Incentive Payment. This is an increase of 3c/l.
A spokesperson said global milk output remains very strong, with volumes in all regions still running well ahead of expectations.
They added: “This is putting pressure on the product price recovery which had appeared during Q1. Overall conditions are finely balanced, with added uncertainty continuing to stem from ongoing geo-political pressures.
"Lakeland Dairies will continue to monitor the markets and will endeavour to support our farmers with the best milk price possible in line with market conditions.”