Lakeland Dairies sets milk price for May supplies
Lakeland Dairies has become the latest co-op to reveal its price for milk supplied in the month of May.
The board of Lakeland met today, Thursday, June 13, to set its latest offering.
A price of 31.28c/L, including VAT, has been agreed for milk supplied in May. The base price has been held from April.
In Northern Ireland, a price of 25.25p/L will be paid for May supplies. Again, the base price has been held.
Commenting on the price, the co-op said: “There continues to be weakness in the European dairy markets driven by the persistently high volumes of product in stock, particularly in the UK. Official European butter prices have hit a four-year low in recent weeks.
“We will continue to closely monitor the market in order to extract the strongest prices for our farmers.”
Last month, Lakeland revealed a price of 31.28c/L, including VAT, for supplies in April.
This base price was held on the previous base price for March. The March price included a lactose bonus, resulting in a total March price offering of 31.56c/L, including VAT.
Last month’s price offering to Northern Ireland suppliers was set at 25.25p/L – which was the same as the figure for the previous month.
At the time, Lakeland said: “The ongoing uncertainty in the European dairy market continues to cast a shadow on the sector.”
Glanbia was the first processor to release its price for May supplies.
On Wednesday, June 12, Glanbia announced a price of 30.5c/L for manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland will pay a base milk price for May of 30c/L, including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.
Both of these figures are being held on last month.
The board of Glanbia Co-op also decided to make a support payment to members of 0.5c/L, including VAT, for May milk supplies.