Lakeland Dairies sets milk price for August

In Northern Ireland, a base price of 27.25p/litre will be paid for milk supplied in August. This represents a reduction of 1.25p/l on the July price. The average payout is 29.5p/l for August.

A price of 34c/litre (3.6% butterfat and 3.3% protein) will be paid for August milk in the Republic of Ireland. This represents a reduction of 1.5c/l on the July price. The average payout for August milk is 38c/l.

The global dairy market remains under pressure with resilient supplies being met by continued weak demand. Sentiment and activity among buyers remain subdued which is being heightened by weakening economies in parts of the world. Lakeland Dairies says it continues to closely monitor the markets in order to return the best possible milk price.