Lakeland Dairies sets milk price for July

In Northern Ireland, a base price of 28.5p/litre will be paid for milk supplied in July. This represents a reduction of 1.5p/l on the June price.

A price of 35.5c/litre (3.6% butterfat and 3.3% protein) will be paid for July milk in the Republic of Ireland. This represents a reduction of 1.85c/l on the June price.The company said global demand for dairy products remains sluggish.

This weak demand is being met by resilient milk supplies in many of the larger production areas, resulting in a continued imbalance between supply and demand.

Subdued sentiment from international buyers is being heightened by an economic slowdown in many parts of the world, particularly China and Asia.

Lakeland Dairies says it continues to closely monitor the markets in order to return the best possible milk price for its 3,200 farm families.