Lakeland milk price continues to fall

Lakeland Dairies has cited "unprecedented volumes of surplus milk" as the board set the price for milk for December at 3c/l less than the November price.

A price of 33.25c/l (3.6% butterfat and 3.3% protein) will be paid for December milk in the Republic of Ireland (ROI) which is inclusive of the 0.5c/l Sustainability Incentive Payment. This is a reduction of 3c/l on the price paid in November.

This follows the trend in recent months of declining prices for milk.

The move follows two 4c/l cuts and a 3c/l cut in the three previous months. Farmers had received 47.25c/l for their milk in August.

Announcing the latest price, Lakeland Dairies assured qualifying farmers that they will also receive an out-of-season payment on top of the base price.

"To help and support farmers through the current market challenges, the Co-operative will pay a loyalty payment of 0.3c/l on all 2025 milk supplies in the Republic of Ireland and a loyalty payment of 0.25p/l in Northern Ireland," said a Lakeland's spokesperson.

In Northern Ireland (NI), a price of 26.3p/l will be paid for milk supplied in December which is also inclusive of the Sustainability Incentive Payment. This is a reduction of 2.5ppl on the price paid in November.

"Unprecedented volumes of surplus milk continue to weigh on global markets following the surge in supply in recent months. This has led to increased inventories, impacting across all dairy commodities.

"Consumer demand remains behind supply due to global economic uncertainty and cost-of-living pressures. This combination continues to put pressure on farm gate prices."