Lakeland Dairies Boosts Milk Prices and Support for Farmers
Source: The DairyNews
Lakeland Dairies Board has announced an increase in the base price for all milk supplied in January, signaling positive news for dairy farmers.
The base price of 38.90c/L, based on constituents of 3.6% butterfat and 3.3% protein, reflects a 1.75c/L increase from the previous month, including a new 0.5c/L Sustainability Incentive Payment.
In addition to the base price, all suppliers will receive a 1c/L early calving bonus and an unconditional 1c/L Input Support Payment to assist farmers during a challenging winter period. The combined effect brings the January milk price to 40.90c/L, with qualifying farmers also eligible for a 5c/L out-of-season payment.
In Northern Ireland, the base price for January milk is set at 31.75p/L, a 1.5p/L increase from December, including the new 0.5p/L Sustainability Incentive Payment. Northern Ireland suppliers will also benefit from an unconditional 1p/L Input Support Payment, resulting in a total price of 32.75p/L for January.
Despite a period of uncertainty at the beginning of the year, Lakeland Dairies is optimistic about the global dairy market outlook. The cooperative notes that while there are geo-political concerns, supply chain disruptions, and economic headwinds, indicators point to modest improvements in the short- to medium-term with a balanced supply and demand dynamic.
The statement from Lakeland Dairies highlights their commitment to closely monitoring the markets and supporting farm families. The introduction of the Input Support Payment of 1c/L aims to assist farmers during a challenging winter period, considering higher input costs compared to historical levels.
In addition to the base price, all suppliers will receive a 1c/L early calving bonus and an unconditional 1c/L Input Support Payment to assist farmers during a challenging winter period. The combined effect brings the January milk price to 40.90c/L, with qualifying farmers also eligible for a 5c/L out-of-season payment.
In Northern Ireland, the base price for January milk is set at 31.75p/L, a 1.5p/L increase from December, including the new 0.5p/L Sustainability Incentive Payment. Northern Ireland suppliers will also benefit from an unconditional 1p/L Input Support Payment, resulting in a total price of 32.75p/L for January.
Despite a period of uncertainty at the beginning of the year, Lakeland Dairies is optimistic about the global dairy market outlook. The cooperative notes that while there are geo-political concerns, supply chain disruptions, and economic headwinds, indicators point to modest improvements in the short- to medium-term with a balanced supply and demand dynamic.
The statement from Lakeland Dairies highlights their commitment to closely monitoring the markets and supporting farm families. The introduction of the Input Support Payment of 1c/L aims to assist farmers during a challenging winter period, considering higher input costs compared to historical levels.
