The board of Lakeland has held its milk price for February supplies.

Milk suppliers will receive 30.4c/l excluding VAT for February manufacturing milk supplies at 3.6% butterfat and 3.3% protein.

This includes a bonus for lactose and is the same as the price paid for January milk supplies.

Weakened market

In a statement on Monday, Lakeland said that "the European market has weakened both for skim milk powder and butter in recent weeks.

"This is compounded by Brexit uncertainty, which is having a negative effect on European prices, while, separately, the New Zealand GDT auction has remained steady.

"Despite currency headwinds, Lakeland Dairies will continue to pay the highest possible milk price in line with market conditions."

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