The Lakeland Dairies board has today (Tuesday, November 10) agreed to hold the price for milk for the month of October.

The processor will pay a base milk price of 39.7c/L (based on standard constituents of 3.6% butterfat and 3.3% protein)for October milk in the Republic of Ireland.

Lakeland said that this price is inclusive of the 0.5c/L Sustainability Incentive Payment.

In Northern Ireland, a base price of 31.9p/L will be paid for milk supplied in October which is also inclusive of the Sustainability Incentive Payment.

Lakeland

In a statement a spokesperson for Lakeland Dairies said: "While there have been some movements in individual product prices across the month, overall dairy market returns have been relatively stable across the same period".

"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," they added.

Feed

Lakeland Dairies has also confirmed the introduction of a feed support initiative to support its milk suppliers over the winter months.

Under this scheme, a rebate of €20/t will be applied to all Lakeland Dairies retail dairy feed purchases made by milk suppliers during December, January and February.

"The initiative is designed to reward milk suppliers who trade with the co-op and support Lakeland Dairies suppliers with the cost of producing winter milk," the spokesperson said.

As terms and conditions will apply, farmers who want further information are encouraged to contact their local agribusiness representative.