Lakeland Dairies is the second processor to announce its milk price for October, with its price remaining unchanged from September.

Suppliers in the Republic of Ireland will receive 30.36c/l excluding VAT for milk supplied last month. Suppliers in Northern Ireland will receive a base price of 26.55p/l.

A lactose bonus of 0.26c/l excluding VAT also applies this month.

Delicate balance

A spokesperson for Lakeland said: “There is currently a delicate balance between supply and demand in global markets, with European production now at a seasonal low, while production in New Zealand and Australia approaches its spring peak.

“US milk production continues to be subsidised, yielding higher volumes than last year into world markets. As many countries have reintroduced COVID-19 restrictions, food service markets have again been challenged.”

Lakeland has said it is important that there is a trade deal between the UK and EU to provide ongoing stability and certainty for the entire dairy industry across the Republic of Ireland, Northern Ireland and Britain.

Glanbia

Glanbia was the first processor to set its milk price for October supplies, with its price remaining unchanged from September.

Member milk suppliers will receive 29.41c/l, excluding VAT, for October milk at 3.6% butterfat and 3.3% protein.

Glanbia becomes first processor to set October milk price

Ornua PPI rise offers scope for co-ops to close price gap - IFA

All co-ops should pay over 32c/l for October milk – ICMSA

Lakeland holds October milk price

Lakeland has said it is important that there is a trade deal between the UK and EU to provide ongoing stability and certainty for the entire dairy industry.