The board of LacPatrick Dairies met today (Wednesday 21 February) and set a price for January milk.
In Northern Ireland, LacPatrick Dairies will pay suppliers a base price of 29.45p/l. The price remains unchanged from December.
Suppliers in the Republic of Ireland will be paid a base price of 35.75c/l (VAT inclusive) – again unchanged from December. Suppliers in the Republic of Ireland are being paid an unconditional 3c/l ‘Early Calving Bonus’ on all milk supplied in January.
Commenting on the milk price, LacPatrick Dairies chairman Andrew McConkey said: “We acknowledge that there has been an improved sentiment in the global dairy markets in recent weeks, albeit from a low base.
“However, we still have a significant gap between the current price being paid to our suppliers and the market returns.
“Based on the situation as it stands, it would appear inevitable that the gap between the market returns and the price being paid to suppliers will have to narrow.
“However, we will continue to closely monitor the market situation so that we return the highest possible price to our farmers,” McConkey said.