Lakeland holds milk price for January supplies

Lakeland Dairies has decided to hold its base milk price for January supplies, it was revealed today.

This means that suppliers will get a base price of 35.5c/L including VAT, having withdrawn the 1c/L butter bonus which has been paid monthly from September to December inclusive.

Lakeland joins the recent trend of processors holding their milk prices for January supplies, with Glanbia and Kerry also keeping figures steady.

Kerry will hold its January milk price at 36c/L including VAT; this represents the fifth month in a row that the processor has decided to hold its milk price.

As well as this, it was announced that Kerry will pay a top-up of 0.8c/L including VAT on all milk supplied in 2017 – milk included in fixed milk price contracts will not be eligible for the top-up.

This top-up payment is being issued in order to fulfil Kerry’s milk contract commitment. Last week, Glanbia Ireland decided to hold its milk price for January supplies.

It will pay its suppliers 35c/L including VAT for January manufacturing milk supplies at 3.6% butterfat and 3.3% protein.

Recent boost to GDT

The most recent Global Dairy Trade (GDT) auction, event 205, has resulted in a boost of 5.9% in index at last week’s trade. Similar to last month’s auction, all products on offer increased in price on the day.

Marking the third straight increase and maintaining early 2018 growth in price, last week’s considerable 5.9% rise follows positive results of 2.2% and 4.9% boosts in January’s GDT events.

The next GDT auction, event 206, will be held next Tuesday, February 20.