Lakeland Dairies Maintains Milk Price, Announces Loyalty Payment for Farmers
Source: DairyNews.today
Lakeland Dairies has held its milk price steady for November, offering 49.6c/L for milk supplied in the Republic of Ireland (ROI) and 40.8p/L in Northern Ireland (NI), inclusive of a 0.5c/L and 0.5p/L Sustainability Incentive Payment, respectively.
In addition to the base price, farmers supplying milk during the out-of-season period will receive a 3c/L payment in ROI and a 3p/L payment in NI. The board confirmed that the base prices remain unchanged from October levels.
Market Outlook
Despite strong performance in the latter half of the year, Lakeland Dairies has flagged a potentially weaker market outlook for 2025.
“Demand remains solid, but milk production volumes are increasing in key global regions,” the company stated. “We will closely monitor the supply-demand dynamics and continue to support our farmers as best we can.”
Loyalty Payment Announced
Lakeland Dairies also unveiled a loyalty payment of 0.8c/L for all milk supplied during 2024. This payment, aimed at rewarding farmers for their commitment during a challenging year, will be disbursed alongside December milk payments on January 15, 2025.
Lakeland Dairies chair Niall Matthews emphasized the co-op’s dedication to its farming community.
“As a board, we are pleased to provide this loyalty payment after a year marked by difficult weather and limited grass growth, which squeezed margins in the early months of 2024,” Matthews said.
He noted that improved conditions in the latter half of the year, coupled with stronger global dairy market returns—particularly for butter—enabled the co-op to support its members further.
“This payment reflects our commitment to our farmers and acknowledges their resilience and loyalty during a demanding period,” Matthews added.
Industry Dynamics
The announcement underscores Lakeland Dairies’ efforts to balance farmer support with market pressures. The steady milk price and additional payments are expected to provide some relief to farmers navigating volatile conditions in the global dairy sector.
Market Outlook
Despite strong performance in the latter half of the year, Lakeland Dairies has flagged a potentially weaker market outlook for 2025.
“Demand remains solid, but milk production volumes are increasing in key global regions,” the company stated. “We will closely monitor the supply-demand dynamics and continue to support our farmers as best we can.”
Loyalty Payment Announced
Lakeland Dairies also unveiled a loyalty payment of 0.8c/L for all milk supplied during 2024. This payment, aimed at rewarding farmers for their commitment during a challenging year, will be disbursed alongside December milk payments on January 15, 2025.
Lakeland Dairies chair Niall Matthews emphasized the co-op’s dedication to its farming community.
“As a board, we are pleased to provide this loyalty payment after a year marked by difficult weather and limited grass growth, which squeezed margins in the early months of 2024,” Matthews said.
He noted that improved conditions in the latter half of the year, coupled with stronger global dairy market returns—particularly for butter—enabled the co-op to support its members further.
“This payment reflects our commitment to our farmers and acknowledges their resilience and loyalty during a demanding period,” Matthews added.
Industry Dynamics
The announcement underscores Lakeland Dairies’ efforts to balance farmer support with market pressures. The steady milk price and additional payments are expected to provide some relief to farmers navigating volatile conditions in the global dairy sector.
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