Lakeland Dairies: March 2022 Milk Price Announcement
Lakeland Dairies has moved to increase its milk price for March 2022 supplies.
The processor announced a 3.6c/L rise earlier this afternoon (Wednesday, April 13th, 2022).
In a statement to That’s Farming, a spokesperson confirmed that the processor will pay 47.1c/L (inclusive of lactose bonus and VAT) for milk at 3.6% fat and 3.3% protein.
According to the spokesperson, the average Lakeland Dairies payout in ROI will be over 50.28c/L for March milk.
Meanwhile, in Northern Ireland, Lakeland Dairies has increased its milk price by 2.8p/L to 37.5 p/L.
On average, Lakeland Dairies will pay out over 39p/L for March milk in Northern Ireland, including adjustments for constituents and quality and volume bonuses.
Stable dairy markets
In the statement, a spokesperson noted that dairy markets continue to be “stable”.
They acknowledged “moderate” supply levels in key dairy producing regions, and “solid” demand in key markets are underpinning this.
The processor acknowledged that on-farm and dairy processing costs have increased “significantly on every front”.
The processor confirmed that it would continue to monitor market developments.
Glanbia sets March milk price
Lakeland Dairies’ announcement follows Glanbia’s yesterday (Tuesday, March 12th, 2022).
The processor will pay 47.08c/L (including VAT) for creamery milk supplies at 3.6% butterfat and 3.3% protein.
Therefore, the overall Glanbia price of 47.08c/L for member milk suppliers includes a base milk price for March of 46.58c/L (including VAT).
According to the processor, this is an increase of 5c/L from its February base price of 41.58c/L (including VAT).
The processor is paying a Sustainability Action Payment of 0.5c/L (including VAT) on all farmer’s supplies in 2022 to recognise specific sustainability actions they are undertaking on-farm.
It will adjust the base price and SAP to reflect the actual constituents of milk that suppliers have delivered.
Read more on this milk price announcement.