Lakeland Dairies holds February milk price
The Lakeland Dairies board today (Tuesday, March 10) confirmed it will hold the price for milk for February.
The board has agreed to hold the base price of 33.25c/L -based on 3.6% butterfat and 3.3% protein - for February milk in the Republic of Ireland (ROI) which is inclusive of the 0.5c/L Sustainability Incentive Payment.
This is the same as the price paid by the co-op in January.
Lakeland Dairies will also continue to pay 2c/L "input support", which it said is aimed at helping and supporting farmers through the current market challenges.
The co-op added: "In addition, ROI farmers will receive the normal 2c/L early calving bonus.
"This will bring the minimum base price for milk to 37.25c/L.
"The co-operative will also pay 5c/L on all qualifying litres for the out of season bonus".
Lakeland Dairies
Meanwhile in Northern Ireland (NI), Lakeland Dairies will pay a base price of 26.3p/L for milk supplied in February which is also inclusive of the Sustainability Incentive Payment.
This is the same as the price paid in January.
The co-op will also pay an input support of 1.75p/L.
Lakeland Dairies stated: "All farmers will also receive an out-of-season payment of 3p/L.
"This will bring the minimum base price for milk in NI to 31.05p/L".
According to the co-op dairy markets "continue to show signs of recovery, despite global milk flows remaining strong".
But it has also warned that the unfolding conflict in the Middle East could create uncertainty.
"The latest geopolitical conflict will impact both supply and demand.
"The extent of this will become clear in the coming weeks and months," the co-op board said.
Lakeland Dairies added that it will "continue to monitor the markets and will endeavour to support our farmers with the best milk price possible in line with market conditions".
