Lakeland Dairies Maintains Base Milk Price for May Supplies
Source: The DairyNews
The board of Lakeland Dairies has announced that its base milk price for May supplies will remain unchanged. The processor confirmed that a base price of 41.9c/L, based on 3.6% butterfat and 3.3% protein, will be paid for May milk in the Republic of Ireland. This price is consistent with the rate from April and includes a 0.5c/L Sustainability Incentive Payment.
Additionally, a 1c/L Input Support Payment will continue to be provided, resulting in an “all-in base price” of 42.9c/L for May milk supplies in the Republic of Ireland.
In Northern Ireland, Lakeland Dairies will pay a base price of 34.5p/L for May milk supplies, including a 0.5p/L Sustainability Incentive Payment. A 0.8p/L Input Support Payment remains in effect, bringing the “all-in price” for Northern Ireland suppliers to 35.3p/L for May.
Lakeland Dairies noted that, despite improved weather conditions, challenges related to grazing and grass growth persist. As a result, the input support payment will continue to support farmers during this period.
“While sentiment around global dairy markets has turned more positive in recent weeks, there is some uncertainty over the long-term activity of buyers in the market,” the co-op stated. “Global supplies remain subdued, which is the main determining factor in the recent volatility of the markets. Lakeland Dairies will continue to monitor the markets and will endeavour to support our farmers as best we can.”
In Northern Ireland, Lakeland Dairies will pay a base price of 34.5p/L for May milk supplies, including a 0.5p/L Sustainability Incentive Payment. A 0.8p/L Input Support Payment remains in effect, bringing the “all-in price” for Northern Ireland suppliers to 35.3p/L for May.
Lakeland Dairies noted that, despite improved weather conditions, challenges related to grazing and grass growth persist. As a result, the input support payment will continue to support farmers during this period.
“While sentiment around global dairy markets has turned more positive in recent weeks, there is some uncertainty over the long-term activity of buyers in the market,” the co-op stated. “Global supplies remain subdued, which is the main determining factor in the recent volatility of the markets. Lakeland Dairies will continue to monitor the markets and will endeavour to support our farmers as best we can.”
