Lakelands holds base milk price

The Lakeland Dairies Board has held the base price for milk for January, but added to its list of bonuses.

A base price of 33.25c/l (3.6% butterfat and 3.3% protein) will be paid for January milk in the Republic of Ireland (ROI) which is inclusive of the 0.5c/l Sustainability Incentive Payment. This is the same as the price paid in December.

The co-operative has announced it will pay a 2c/l input support "to help and support farmers through the current market challenges".

In addition, ROI farmers will receive the normal 1c/l early calving bonus. This, they say, will bring "the minimum base price" for milk to 36.25c/l. The co-operative will also pay 5c/l on all qualifying litres for the out of season bonus.

In Northern Ireland (NI), a base price of 26.3p/l will be paid for milk supplied in January which is also inclusive of the Sustainability Incentive Payment. This is the same as the price paid in December. An input support of 1.75p/l will also be paid. All farmers will also receive an out-of-season payment of 3p/l. This will bring the minimum base price for milk in NI to 31.05p/l.

A Lakeland Dairies spokesperson said: "Following a period of significant weakness, global dairy markets have shown some tentative signs of stabilisation. That said, conditions remain unpredictable."