Lakeland Dairies announces July milk price

In Northern Ireland, Lakeland Dairies has held its milk price for July at 29.2p/litre.

In the Republic of Ireland, Lakeland Dairies has held its base milk price for July at 36 cpl, including VAT, for milk at 3.6% fat and 3.3% protein.

Dairy markets remain reasonably stable however there has been a level of adjustment in the balance of supply and demand, affecting butters and powders in the main.

Weather events around the world have created some uncertainty in terms of their potential impact on milk supplies, including in Europe where supplies are curtailed, while other milk production regions are now exporting higher volumes in line with seasonal trends.

There remains a level of variability in forward buying patterns, given the still ongoing effects of the pandemic and the effectiveness of vaccination programmes around the world.

There are ongoing restrictions in markets where vaccine programmes are not yet fully established and new variants of COVID-19 are present.

The foodservice sector continues to benefit from the reopening across the world however this remains tentative in many markets where consumer activity within the hospitality, tourism and catering sectors is recovering slowly and from a very low base.

Lakeland Dairies says it will continue to monitor the market closely in the coming weeks.