Lakeland Dairies has increased its milk price for February 2022 supplies.
The processor made the announcement earlier this afternoon (Friday, March 11th, 2022).
In a statement to That’s Farming, a spokesperson confirmed that in the Republic of Ireland, Lakeland Dairies has increased its milk price by 2.5c/L to pay 43.5c/L, inclusive of lactose bonus and VAT, for milk at 3.6% fat and 3.3% protein.
The spokesperson said: “On average, the Lakeland Dairies pay out in ROI will be over 47.19c/L for February milk.”
Lakeland Dairies February 2022 milk price
Meanwhile, in Northern Ireland, Lakeland Dairies has increased its milk price by 2p/L to 34.7p/L.
On average, Lakeland Dairies will pay out over 36.75 pence/litre for February milk in Northern Ireland. This includes adjustments for constituents and quality and volume bonuses.
The spokesperson noted that dairy markets maintained a “positive” balance between supply and demand.
They made reference to a “moderation” in supplies from other main dairy producing regions.
“All dairy markets are good. However, on-farm and factory processing costs have increased significantly. Lakeland Dairies said it will continue to monitor market developments,” the spokesperson concluded.
Glanbia sets milk price
Glanbia has set its milk price for February 2022 supplies, becoming the second processor to do so.
Earlier this evening (Friday, March 11th, 2022), a spokesperson confirmed that it has increased its milk price to 45.08c/L (including VAT) for February 2022 creamery milk supplies at 3.6% butterfat and 3.3% protein.
The statement outlined that the overall Glanbia price of 45.08c/L for member milk suppliers includes;
- A base milk price for February of 41.58c/L (including VAT). This is an increase of 1.5c/L from the January base price of 40.08c/L (including VAT);
- An unconditional seasonality bonus of 3c/L (including VAT) on qualifying milk volumes supplied in February;
- A sustainability action payment of 0.5c/L (including VAT) on all milk members supply in 2022 to recognise specific sustainability actions undertaken on-farm.