Lakeland Dairies announces milk price for June

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

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

A spokesperson said that global markets are at present demonstrating a reasonable balance of supply and demand.

“European milk supplies, which have been constrained by colder than average temperatures in recent months, are now increasing gradually in line with weather improvements across the continent. Worldwide milk supply is also increasing at a strong pace with the main dairy producing countries exporting higher volumes.

“While global dairy prices remain stable for now, concerns continue in relation to the ongoing pandemic crisis worldwide, the variable global pace of vaccinations and the potential for new variants to disrupt consumer and economic activity. Foodservice markets continue a gradual recovery however this is coming from a significantly lower base in view of the ongoing impacts of the pandemic.

“Lakeland Dairies will continue to monitor the market closely in the coming weeks.”