The Board of Lakeland Dairies has decided the co-operative’s milk price, with an increase of two pence per litre to 34.7 pence/litre.
On average, Lakeland Dairies will pay out over 36.75 pence/litre for February milk in Northern Ireland, including adjustments for constituents and quality and volume bonuses.
In the Republic of Ireland, Lakeland Dairies has increased its milk price by 2.5 cent/litre to pay 43.5 cent/litre, inclusive of lactose bonus and VAT, for milk at 3.6 per cent fat and 3.3 per cent protein.
On average, the Lakeland Dairies payout in ROI will be over 47.19 cent/litre for February milk.
Dairy markets maintained a positive balance between supply and demand, with a moderation in supplies from other main dairy producing regions.
All dairy markets are good, however, on-farm and factory processing costs have increased significantly.
Lakeland Dairies said it will continue to monitor market developments.