LacPatrick follows Kerry, holds March milk price
LacPatrick is the latest dairy processor to set its March milk price, following Kerry Group, Glanbia and Lakeland Dairies which set their prices last week.
A spokesperson for the Monaghan-based co-op confirmed to Agriland that its base milk price would remain unchanged for March milk collections, at 24.25c/L (including VAT).
Kerry Group set its March milk price on Friday of last week, holding the base price at 25c/L (including VAT).
Last week, Glanbia cut 2c/L off its March market price, bringing the price for March supplies to 22c/L (including VAT).
This price is inclusive of a 1c/L Glanbia Co-Operative Society (“the Society”) support payment to its members and the advance distribution by GII of a 1c/L “Additional Cash Bonus” from Ornua.
Henry Corbally, Glanbia Chairman, said that the Board and management of Glanbia is acutely conscious that the current weakness in dairy market returns, as well as the challenging weather, is extremely difficult for milk suppliers.
Meanwhile, Lakeland Dairies also cut its milk price for March supplies by 1c/L.
Farmers supplying Lakeland Dairies will receive a base milk price of 24.78c/L (including VAT) for March collections along with a lactose bonus of 0.28c/L.
In February, the co-op held its base milk price for February supplies of milk at 25.78c/L (including VAT and lactose bonus).
The remaining co-ops are expected to set their prices for March supplies of milk this week.