Lakeland Dairies Boosts Milk Price for February Supplies

In the Republic of Ireland, a base price of 41.4 cents per liter (with 3.6% butterfat and 3.3% protein) will be paid, reflecting a notable increase of 1.5 cents per liter. This increase includes a new 0.5 cents per liter Sustainability Incentive Payment. Moreover, the 1 cent per liter Input Support Payment previously paid on January milk now forms part of the base price for February, according to the processor.

In addition to this, all suppliers will automatically receive a 2 cents per liter early calving bonus, resulting in a total price of 43.40 cents per liter for February milk.

Furthermore, qualifying farmers will benefit from a 5 cents per liter out-of-season payment, providing an additional boost to their earnings.

For Lakeland Dairies suppliers in Northern Ireland, a base price of 34 pence per liter will be paid for February milk. This reflects an increase of 1.25 pence per liter, including the new 0.5 pence per liter Sustainability Incentive Payment. Similar to the Republic of Ireland, the 1 pence per liter Input Support Payment previously applied to January milk now contributes to the base price for February.

Lakeland Dairies emphasized the delicate nature of global dairy markets, highlighting a tentative balance between supply and demand. While buyers remain cautious, demand remains robust due to decreased production in key regions such as Europe and New Zealand. As Europe approaches the critical spring season, milk supply is expected to remain subdued, providing stability to the market.

However, the company also acknowledged ongoing concerns regarding geopolitical tensions, supply chain disruptions, and global economic challenges, underscoring the need for vigilant monitoring and management.

Lakeland Dairies management pledged to continue monitoring market developments closely in the coming weeks, ensuring farmers receive fair compensation for their contributions to the dairy industry.