Lakeland Dairies has become the first processor to announce its milk price for July 2021.
It has held the co-operative’s milk price for last month.
Lakeland milk price July 2021
In the ROI, the processor will pay 36 cpl, including VAT, for milk at 3.6% fat and 3.3% protein.
Meanwhile, in Northern Ireland, Lakeland Dairies has held its milk price for July at 29.2p/litre.
In a statement this afternoon (Thursday, August 12th, 2021), a spokesperson said:
“Dairy markets remain reasonably stable. However, there has been a level of adjustment in the balance of supply and demand, affecting butters and powders in the main.”
“Weather events around the world have created some uncertainty in terms of their potential impact on milk supplies, including in Europe where supplies are curtailed, while other milk production regions are now exporting higher volumes in line with seasonal trends.”
The spokesperson stated there remains a level of variability in forward buying patterns. This is on the back of the ongoing effects of the pandemic and the effectiveness of vaccination programmes worldwide.
There are ongoing restrictions in markets where vaccine programmes are not yet fully established, and new variants of COVID-19 are present.
The foodservice sector continues to benefit from the reopening across the world.
However, this remains “tentative” in many markets where consumer activity within the hospitality, tourism and catering sectors is recovering “slowly and from a very low base”.
Lakeland Dairies stated that it will continue to monitor the market “closely” in the coming weeks.
Last month, a spokesperson said:
“Global markets are at present demonstrating a reasonable balance of supply and demand.”
“European milk supplies, which have been constrained by colder than average temperatures in recent months, are now increasing gradually in line with weather improvements across the continent.”
“Worldwide milk supply is also increasing at a strong pace with the main dairy-producing countries exporting higher volumes.”
The spokesperson stated that while global dairy prices remain stable for now, concerns continue surrounding:
- Ongoing pandemic crisis worldwide;
- The variable global pace of vaccinations;
- Potential for new variants to disrupt consumer and economic activity.