Lakeland Dairies sets milk price for February

Suppliers in Northern Ireland (NI) will receive a base price of 39.8p/l (at base solids) for milk supplied in January which is inclusive of the 0.5p/l Sustainability Incentive Payment. The base price has reduced by 1p/l from last month. The 3p/l out-of-season payment will be made on top of the base price meaning that suppliers will receive a base price of 42.8p/l for February.

A base price of 48.75c/l (3.6% butterfat and 3.3% protein) will be paid for February milk in the Republic of Ireland (ROI) which is inclusive of the 0.5c/l Sustainability Incentive Payment. The base price has been reduced by 1c/l from last month. All suppliers automatically receive a 2c/l early calving bonus while qualifying farmers will receive a 5c/l out-of-season payment.

Global dairy market demand has been more subdued in recent weeks after a period of general stability. Market prices are tracking marginally behind the farmgate price hence the requirement for a price correction for February milk.

Lakeland Dairies will continue to monitor the markets and will endeavour to support their farmers as best they can.