Lakeland Dairies has announced it will hold its milk price at 38c/l for the month of October, meaning it is unchanged from September.
The base price excludes VAT and is paid on the basis of 3.6% butterfat and 3.3% protein, inclusive of the 0.48c/l sustainability bonus.
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 payment.
In September, the co-op noted that growth in global milk flow was slowing.
On the October pricing announcement on Tuesday, the processor stated that “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”.
It added that markets will be continued to be monitored and said Lakeland Dairies will “endeavour to support our farmers with the best milk price possible in line with market conditions”.
Feed support
Lakeland Dairies has also introduced a feed support initiative to support milk suppliers over the winter months.
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 under the scheme.
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 processor added that terms and conditions will apply and farmers seeking further information are encouraged to contact their local Lakeland Dairies agribusiness representative.
