Lakeland Dairies has, this evening (Tuesday, July 11th, 2023), become the first milk processor to set its price for June 2023 supplies.
According to a statement released to this publication by a spokesperson for Lakeland Dairies, the price of 37.35c/litre (3.6% butterfat and 3.3% protein) will be paid for June milk in the Republic of Ireland.
This price is unchanged from the May price, as reported by us in this news article.
Meanwhile, in Northern Ireland, Lakeland Dairies has held the base price of milk for June at 30 p/litre.
A spokesperson said: “Dairy markets have remained uncertain over the past month with demand for products subdued.”
“Milk production in many of the main dairy regions remains up on last year albeit the rate of growth has slowed.”
“This is resulting in the supply/demand dynamic remaining out of line, which is contributing to this market uncertainty.”
“Lakeland Dairies continues to closely monitor the markets in order to return the best possible milk price to our 3,200 farm families,” the spokesperson added.
May milk price
When announcing its May milk price last month, a spokesperson noted that the rate of growth in global milk supply is “slowing, but it still exceeds demand”.
“With economic volatility still a factor, there is generally weaker consumer sentiment in markets across the world.”
“Dairy buyers continue to be reserved in their current and forward-looking buying patterns.”
Lakeland Dairies re-iterated its commitment to “paying the highest possible milk price”, in line with market conditions.
It said it will continue to monitor market developments closely.
Further milk price announcements will be published as they are confirmed.
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