Lakeland Dairies increases milk price for January to 32.75p/l

Suppliers in Northern Ireland will receive a base price of 31.75p/l (at base solids) for milk supplied in January. This represents a 1.5p/l increase to the base price including the new 0.5p/l Sustainability Incentive Payment. All farmers are automatically receiving an unconditional 1p/l Input Support Payment. This takes the all-in price in Northern Ireland to 32.75p/l.

A base price of 38.90c/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/l including the new 0.5c/l Sustainability Incentive Payment. All ROI suppliers are also receiving the unconditional 1c/l Input Support Payment as well as a 1c/l early calving bonus taking the ROI price to 40.90c/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 spokesman said: “The outlook for the 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. As we approach the crucial spring-calving season, indicators are pointing to modest improvements in the dairy markets in the short to medium term with a reasonable balance in the supply and demand dynamic. However, there are geo-political 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.

"We have also moved to support our farm families by introducing an Input Support Payment of 1c/l to assist them with a challenging winter period as inputs remain higher than historical levels.”