Lakeland Dairies announces drop in milk price

Lakeland Dairies has become the first processor to announce its milk price for August supplies, revealing a reduced figure for last month’s milk.

Following a board meeting today, Thursday, September 12, the cooperative revealed a reduction of 0.75c/L for August.

In the Republic of Ireland, a price of 30.03c/L including VAT has been agreed for milk supplied in August.

In Northern Ireland, a price of 24.50p/L will be paid for July supplies.

Commenting on the price, the co-op said: “Despite the moderation in milk supplies, the global dairy market continues to be hit by weak demand across a range of products as a result of significant Brexit trade uncertainty and US-China trade wars.

“Lakeland will continue to monitor the market closely in the coming week,” the statement concluded.

LacPatrick acquisition

Late last month, it was announced that a total of 68 staff based at LacPatrick Dairies headquarters in Coolshanagh, Co. Monaghan, have been made redundant as moves to progress its merger with LakeLand Dairies intensify.

Following board approval of the decision earlier this morning, Friday, August 30, it is understood that staff were informed of the news on site this afternoon.

It is believed that while there were initial plans for up to 131 job losses, this figure was reduced down to 68 – the other 63 employees will remain at the co-operative.