Lakeland Dairies: September milk price in ROI a 'reduction' of 3c/L on August price
Lakeland Dairies today (Friday, October 10) confirmed the price for milk for September.
The board of Lakeland has agreed a price of of 44.25c/L at 3.6% butterfat and 3.3% protein for September milk in the Republic of Ireland (ROI) which is inclusive of the 0.5c/L Sustainability Incentive Payment
This is a reduction of 3c/L on the price paid in August.
In Northern Ireland Lakeland Dairies will pay a price of 35.8p/L for milk supplied in September which is also inclusive of the Sustainability Incentive Payment.
This is a reduction of 2.5p/L on the price paid in August.
Lakeland Dairies
In a statement the co-op warned that the market continues to experience pressure "due to sustained strong global supply, particularly from major dairy-exporting regions".
Lakeland Dairies added: "This is driving a decline in commodity prices for butter and all milk products and is contributing to a significant downward momentum on farm gate price.
"Lakeland Dairies will continue to monitor the markets and will endeavour to support our farmers with the best milk price possible in line with market conditions".
Feed support
The co-op also confirmed today that it is "introducing a feed support initiative".
"Under this scheme, a rebate of €20/t will be applied to all Lakeland Dairies retail dairy feed purchases made by milk suppliers between November and February.
"The initiative is designed to support liquid and winter milk suppliers during the early and mid-lactation period. It will also help spring-calving herds manage the winter dry period effectively," the co-op added.
It has outlined that terms and conditions will apply and that farmers should contact their local Lakeland Dairies Agribusiness representative for further information.
GDT
Meanwhile the latest results from the Global Dairy Trade (GDT) show a continued downward trajectory as the index figure decreased for the fourth consecutive time.
Following the latest auction event earlier this week (Tuesday, October 7), the index dropped by a further 1.6%.
This represents an average price of €3,921 per metric tonne (mt) of product sold.
The GDT price index has been falling since the August 19 trading event.
