12 June 2018

Lakeland Dairies Holds Base Milk Price for May

News

Lakeland Dairies has announced that it has maintained its milk price, holding the base milk price at 31.78c/L including VAT for May milk supplies.

The bad weather support payment of 1.5c/L from the April price has been withdrawn, however.

While global market conditions remain difficult, there has been some improvement in skim markets from a record low base and butter returns continue to carry milk prices, the processor explained.

Chairman Alo Duffy said: “After a difficult late spring, the farmer owned and controlled Lakeland Dairies Co-operative is committed to paying the maximum possible milk price to our milk suppliers.”

‘Milk Production Will Increase 50% Per Farm By 2030’

Between now and 2030, worldwide demand growth for milk and milk products will be three times the level of current US milk production.

This was one of the main findings of the latest publication from the IFCN (International Farm Comparison Network) – the dairy research network – that was discussed at the 19th IFCN Dairy Conference, which opened yesterday (Monday, June 11), in Teagasc, Moorepark, Co. Cork.

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