Lakeland announces January milk price and bonuses

Lakeland Dairies has become the first processor to announce its milk price for January supplies.

Following a meeting of the board today (Thursday, February 10), the co-op revealed a held milk price with a special bonus, both north and south.

In the Republic of Ireland, a base price of 32.34c/L including VAT/lactose will be paid for milk supplied in January. This is the same base price as December.

The normal out of season bonus of 5c/L applies for January. A special unconditional Lakeland Bonus of 1c/L plus VAT will also be paid on all January milk, and this was also paid for December and November milk.

In Northern Ireland, a base price of 26.55p/L will be paid for January milk. This is the same base price as December.

In addition, a special unconditional Lakeland Bonus of 1p/L will also be paid for all January milk, and this was also paid for December and November milk.

Commenting, Lakeland Dairies said: “With the spring-calving season commencing on many of the farms in the Lakeland Dairies region, the co-operative said that dairy markets are broadly steady.

In the main, commodity prices are unchanged with a general stability in the market at present. Prices for main powder and butter products are on par with recent times and steady in the main. There are concerns, however, over the increased volume of milk production in the US.

“The foodservice market continues to be hampered by Covid-19 with hotels, airlines, restaurants and the fast service market segment still largely closed across Europe.

“Key to recovery in this sector will be the continued rollout of a vaccination programme leading to a potential easement of societal and consumer restrictions. Lakeland said it will continue to monitor the market closely in the coming weeks.”

Lakeland Dairies also paid strong tribute to farmers, their families and rural communities for staying resilient and vigilant during the pandemic crisis and urged that all preventative measures should continue to be observed by everyone at all times in line with government and health guidance.