Lakeland Dairies increases milk price for June

The Board of Lakeland Dairies has decided the co-operative’s milk price for June.

In Northern Ireland, Lakeland Dairies has increased its milk price by 2.5 p/litre to 44 p/litre.

On average, Lakeland Dairies will pay out 45.46 pence/litre for June milk in Northern Ireland including adjustments for constituents and quality, and volume bonuses and zero cartage charges.

In Northern Ireland, all fixed milk price contracts will receive a 7 p/litre supplementary payment.

In the Republic of Ireland, Lakeland Dairies has increased its milk price by 3 cent/litre to pay 55.1 cent/litre inclusive of VAT, for milk at 3.6% fat and 3.3% protein.

On average, the Lakeland Dairies pay out in ROI will be 57.88 cent/litre for June milk.

In ROI, all fixed milk price contracts will receive an 8 c/litre supplementary payment.

The dairy markets continue to yield strong returns given limited milk supply growth from key dairy producing regions due mainly to seasonality and higher input costs.

Inflationary pressures continue to impact at every level of the dairy supply chain from farming, through processing and food manufacturing and onwards into the market.

Current market conditions will continue to provide good returns for the foreseeable future.

Lakeland Dairies continues to monitor market developments.