Lakeland milk price remains static for the first time in months

After months of continuous growth in price for milk, Lakeland has finally held the price for September at July's level.

A softening in demand in Asian markets, and economic volatility were all flagged by the Board of Lakeland Dairies in announcing the co-operative’s milk price would remain at 58.85c/l inclusive of VAT, for milk at 3.6% fat and 3.3% protein.

The announcement brings to a close announcements of successive record price levels. The Lakeland Dairies base milk price for September 2021 was 37.5 cpl. Normally that would have been regarded as a high price, but is some 21.35c/l less than today's.

The September 2022 price includes a supplementary 'Input Support Payment' of 1.5c/l, inclusive of VAT, introduced in August recognising the rising costs of all farm inputs and payable for all suppliers, including fixed milk price contracts.

The Board outlined that on average, they will pay out 67.45 c/l for September milk in the Republic.

In ROI, all fixed milk price contracts will receive an 8 c/litre supplementary payment, plus the additional 1.5 c/litre Input Support Payment.

"Global dairy markets continue to reflect ongoing economic volatility, including inflation, and concerns relating to energy pricing and the overall cost of living. Asian market demand has also softened further.

"Consumer sentiment is generally less assured than heretofore, trending towards reduced demand for higher priced product categories and consequent ongoing effects on market prices."