The Lakeland Dairies Board has today (Tuesday, February 13) decided on a price for milk supplied in January with the base price increasing for all milk supplied.

A base price of 38.90c/L based on constituents of 3.6% butterfat and 3.3% protein, will be paid for January milk in the Republic of Ireland.

The base price has increased by 1.75c/L since the previous month including the new 0.5c/L Sustainability Incentive Payment.

The cooperative said that all suppliers will automatically receive a 1c/L early calving bonus and are also receiving an unconditional 1c/L Input Support Payment to assist farmers with costs during a challenging winter period.

This brings the January milk price up to 40.90c/L with those two bonus payments included. Meanwhile, qualifying farmers will also receive a 5c/L out-of-season payment.

NI Lakeland Dairies suppliers

In Northern Ireland, a base price of 31.75p/L will be paid for milk supplied in January.

The base price has increased by 1.5p/L since December including the new 0.5p/L Sustainability Incentive Payment.

The co-op said that all NI suppliers are also automatically receiving the unconditional 1p/L Input Support Payment to give an all-in price increase of 2.5p/L. So, the price paid to milk suppliers for January will be 32.75p/L which includes the Input Support Payment.

Lakeland Dairies has said that the outlook for the global dairy markets remains tentatively positive after a period of uncertainty at the start of the year, with buyers at the time taking a reserved position, but global milk supply remains muted.

In a statement, the co-op said: “As we approach the crucial spring-calving season, indicators are pointing to modest improvements in the dairy markets in the short- to medium-term with a reasonable balance in the supply and demand dynamic.

“However, there are geo-political concerns, supply chain disruptions and global economic headwinds to be acutely aware of. Lakeland Dairies will continue to closely monitor the markets in the coming weeks.

“We have also moved to support our farm families by introducing an Input Support Payment of 1c/L to assist them with a challenging winter period as inputs remain higher than historical levels.”