Lakeland holds its milk price for January

Lakeland Dairies has become the latest processor to announce its milk price for the month of January.

Following a meeting of the co-operative today (Wednesday, February 13), the processor has held its milk price and will pay 32.06c/L, including VAT and lactose bonus, for January milk supplies.

This is the same as the price paid for December milk supplies.

While global dairy market conditions have remained relatively stable since December, and through January, this is coming from a lower base in the latter half of 2018.

The impending Brexit is creating considerable market uncertainty in Europe, according to a spokesperson for the co-operative.

Lakeland Dairies will continue to pay the highest possible milk price in line with market conditions, the representative added.

This follows on from the news yesterday that Glanbia has also decided to hold its current price.

Glanbia holds price

The processor said that it will pay its member milk suppliers 32c/L including VAT for January manufacturing milk supplies at 3.6% butterfat and 3.3% protein.

Glanbia Ireland (GI) has maintained its base milk price for January at 30c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.

In addition, Glanbia Ireland will make an interim market payment of 1c/L (including VAT) on all January milk supplies (excluding Fixed Milk Schemes paying above 31c/L). Meanwhile, Glanbia Co-op will make a support payment to members of 1c/L including VAT.

The Glanbia Ireland payments and the Glanbia Co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

Glanbia chairman Martin Keane said: “Glanbia Ireland is holding its base price at 30c/L and paying a 1c/L interim market payment as we await developments.

“Lower supply from key EU regions and a positive GDT has helped market sentiment, but Brexit and global trade tensions continue to create uncertainty around market direction.”