Lakeland Dairies have announced a 2c/l increase in their milk price for November, bringing their base price up 36c/l.
Qualifying farmers will also receive a 3c/l out-of-season payment.
In Northern Ireland, a base price of 29.25p/litre will be paid for milk supplied in November. The base price has increased by 2p/l plus the usual out-of-season payment of 3p/l.
A spokesperson for Lakeland said that there are signs of improvement within the industry after a difficult year for farmers.
“After a challenging year in the dairy industry, there are signs of improving sentiment in the global dairy markets. The global supply and demand dynamic remains delicately poised as we come out of the peak production season in New Zealand and move halfway through the key dairy buying period of Q4 2023 and Q1 2024.
Overall, however, the key signals are showing positivity. Lakeland Dairies will continue to monitor the markets closely in the time ahead. Lakeland Dairies will continue to monitor the markets closely in the time ahead.”
Last week, it was announced that the Ornua Purchase Price Index (PPI) increased to 125.8 in November 2023.
The increase follows a previous rise to 122.3 in October, which was the first rise after nine consecutive months of decreases in the PPI.
