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LacPatrick Dairies has dropped its milk price by 1c/l for October, bringing the milk price to 29.4c/l excluding VAT.
Farmers supplying LacPatrick in Northern Ireland will receive 26.5p/l
“We are now very much in the midst of a severe downturn in the dairy markets which is on a par with 2016. The business we operate must reflect the realities of the market,” LacPatrick Dairies chair Andrew McConkey said.
“We will continue to closely monitor the market in order to return the maximum possible price back to our farmers.”
Christmas cuts
The co-op also recently told staff that it will be cutting Christmas bonuses for staff, which would normally be worth two weeks’ wages to staff members.
In a statement read to staff at its three plants in Monaghan town, Ballyrashane and Artigarvan, LacPatrick said that “urgent measures” were needed to "reduce costs and support the survival of the business until the merger with Lakeland completes".
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