Milk price holds steady as Lakelands appoint new heads of the board

Lakeland Dairies has held the milk price for January at the same level as December's payments, with the same base prices and bonus payments for suppliers.

The announcement coincides with today's election of two senior board members, as Louth man Niall Matthews takes the reigns as chairman, while Andrew McHugh, of Newtownforbes has been appointed Vice-Chairman.

In the Republic, a base price of 32.34c/litre (including VAT / Lactose) will be paid for milk supplied in January. This is the same base price as December. The normal out of season bonus of 5 c/litre applies for January. A special unconditional Lakeland Bonus of 1c/litre (plus VAT) will also be paid on all January milk; this bonus was also paid for December and November milk.

Across the border, a base price of 26.55p/litre will be paid for January milk, which again, is the same base price as December. In addition, a special unconditional Lakeland Bonus of 1p/litre will also be paid for all January milk; as was also paid for December and November milk.

US concerns

"With the spring calving season commencing on many of the farms in the Lakeland Dairies region, the co-operative said that dairy markets are broadly steady," a Lakeland Dairies spokesperson said.

"In the main, commodity prices are unchanged with a general stability in the market at present. Prices for main powder and butter products are on par with recent times and steady in the main. There are concerns, however, over the increased volume of milk production in the United States.

"The foodservice market continues to be hampered by COVID-19 with hotels, airlines, restau­rants and the fast service market segment still largely closed across Europe. Key to recovery in this sector will be the continued rollout of a vaccination programme leading to a potential easement of societal and consumer restrictions. Lakeland said it will continue to monitor the market closely in the coming weeks."

Honoured

Wuith regards to the board appointments, Mr Matthews succeeds Aloysius Duffy who has served as chairman since 2014; while Mr McHugh succeeds Colin Kelso who has served as Vice-Chairman since 2016.

Niall Matthews said, “I am very honoured to be appointed Chairman of Lakeland Dairies and on behalf of the Board and members of the co-operative, I warmly acknowledge and express our appreciation for the ongoing contribution of both Alo Duffy and Colin Kelso to the growth and development of our society over many years and wish each of them continuing success in their dairying enterprises. Working with the Vice-Chairman, Board Members, CEO and Management of the co-operative, I look forward to the continuing strong progress of Lakeland Dairies.”

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