Lakeland Dairies reduces October milk price

Local dairy farmers have endured a significant cut to income as Lakeland Dairies Board agreed a price of just over 40 cent per litre for milk supplied in October.

The price is a reduction of 4 cpl on the price paid in September. A price of 40.25c/l (3.6% butterfat and 3.3% protein) will be paid for October milk in the Republic of Ireland (ROI) which is inclusive of the 0.5 c/l Sustainability Incentive Payment.

In Northern Ireland (NI), a price of 32.3p/l will be paid for milk supplied in October which is also inclusive of the Sustainability Incentive Payment. This is a reduction of 3.5 ppl on the price paid in September.

A Lakelands spokesperson said: "Significant market pressure persists as global milk supplies continue to grow from an already strong base. Demand is struggling to keep up, which is impacting on butter, cheese and powder returns adding continued pressure on farm gate prices."