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Lakeland Dairies Announces Milk Price Increase for June Amid Steady Market Conditions

Ireland 11.07.2024
Source: The DairyNews
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Lakeland Dairies has confirmed an increase in the base price for milk supplied in June. In the Republic of Ireland, the cooperative will pay a base price of 43.5 cents per liter for milk with 3.6% butterfat and 3.3% protein, which includes a 0.5 cent per liter Sustainability Incentive Payment.
Lakeland Dairies Announces Milk Price Increase for June Amid Steady Market Conditions
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This marks an increase from May's all-in base price of 42.9 cents per liter.

In Northern Ireland, June's base price will be set at 35.8 pence per liter, also including the 0.5 pence per liter Sustainability Incentive Payment, up from May's price of 34.5 pence per liter.

The cooperative noted that market conditions have remained largely stable with no significant changes in the supply-demand balance. However, weather and grazing conditions continue to pose challenges for farmers across the island.

Additionally, the Ornua Monthly Purchase Price Index (PPI) for June has risen to 140.8 from 135.6 the previous month, Agriland.ie writes. This increase in the PPI suggests an indicative return of 41.5 cents per liter for milk at similar fat and protein levels, after accounting for Ornua’s marketing costs. This is an improvement from last month’s return of 39.6 cents per liter, reflecting better market returns throughout June.
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