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First processor cuts milk price for January
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First processor cuts milk price for January

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Lakeland Dairies has announced that it will be withdrawing a 1c/l butter bonus on its January milk price, effectively cutting the price.
Lakeland Dairies has announced that it will be withdrawing a 1c/l butter bonus on its January milk price, effectively cutting the price.

Lakeland Dairies has cut the 1c/l bonus from its milk price for January supplies, a spokesperson for the processor has confirmed.

While Lakeland announced that its base milk price for January milk would be held at 33.68c/l excluding VAT, it said it would be withdrawing the 1c/l butter bonus which has been paid monthly from September to December inclusive.

It is the first processor to cut its milk price this year.

On Monday, Kerry held its January milk price at 34.62c/l excluding VAT and announced a top-up payment of 0.75c/l excluding VAT on 2017 supplies of milk, excluding milk supplied in fixed-milk-price contracts.

Last week, Glanbia announced it would be holding its milk price for January at 33.2c/l excluding VAT at 3.6% butterfat and 3.3% protein.

Read more

Lower New Zealand supply pushing markets upwards

PPI dairy price index flatlines in January

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