Lakeland Dairies' base price for the month of July is up 1.7c/l, excluding VAT.

The cross-border co-op is paying suppliers a base price of 43.2c/l, excluding VAT, for July supplies. This base price is inclusive of a 0.5c/l sustainability incentive payment.

This July price rise follows a 1.6c/l, excluding VAT, increase for June supplies also.

In Northern Ireland, a base price of 37.3p/l will be paid for milk supplied in July, which is inclusive of the 0.5p/l sustainability incentive payment. The base price has increased by 1.42p/l from last month.

Markets

"The global dairy market returns have improved month on month, with butter markets in particular showing increased returns from last month," a spokesperson said.

Lakeland Dairies has said that it will continue to monitor the markets and will endeavour to support our farmers as best we can.

Fodder survey

If not done so already, Lakeland Dairies is encouraging farmers to carry out a fodder survey to get an accurate picture of feed stocks on their farm.

If deficits have been identified, the co-op is strongly advising farmers to take action and engage with agribusiness advisers.