Lakeland Dairies has held its milk price and will pay 32.06 cent per litre, inclusive of VAT and lactose bonus, for December milk supplies. This is the same as the price paid for November milk supplies; which was a 1 cent per litre reduction on the October milk price.
Lakeland Dairies will also pay an extra 5 cents per litre Voluntary December Bonus to qualifying suppliers, based on peak to trough supply ratios.
Year to date, milk supplies have remained strong and were up by 17% in December compared to the same time a year ago.
While global markets continue to be volatile, the ongoing EU sale of stocks from intervention provides a reasonable level of stability at the start of the year.
However butter prices declined significantly in recent months.
Lakeland Dairies will continue to pay the highest possible milk price in line with market conditions.