Lakeland Dairies announces June milk price

Lakeland Dairies has held its base milk price at 31.78c/L including VAT for June milk supplies.

The June milk price of 31.78c/L is the same base price that was paid in May, according to the processor.

“This is consistent with Lakeland Dairies’ commitment to pay our suppliers the highest possible milk price in line with market conditions which remain challenging,” according to a Lakeland spokesperson.

“There has been a softening in skim markets, which have risen only gradually from a record low, and while butter returns which are underpinning current prices, they have softened in the past month.”

PPI bounces back

Meanwhile, earlier today, Ornua’s Purchase Price Index (PPI) for the sixth month of this year recorded a jump of almost four percentage points compared to the May equivalent.

It was confirmed today (Wednesday, July 11) that the PPI for June stood at 109.0 – this equates to 32.8c/L including VAT based on Ornua’s product purchase mix and assumed costs of 6.5c/L, the Irish dairy exporter explained.

The latest index is adjusted from 105.4 in May, 2018.

Today’s news represents the second consecutive monthly increase announced by Ornua; an increase of five percentage points was noted when the PPI for May was revealed.
According to a statement from Ornua, the June 2018 index reflects “stronger returns in the month for butter and powders”.