Suppliers to Lakeland Dairies are to get a bonus payment in the new year of 0.76c/l excluding VAT on all 2024 supplies. The payment will be made with December milk cheques on 15 January 2025.
Suppliers to Lakeland Dairies are to get a bonus payment in the new year of 0.76c/l excluding VAT on all 2024 supplies.
The payment will be made with December milk cheques on 15 January 2025.
The Lakeland board took the decision at its December meeting. Chair Niall Matthews said it was keen to support its “farmers who endured a very challenging start to 2024”.
“Thankfully, as conditions improved, so did milk volumes. At the same time, global dairy market returns increased, especially for butter in the second half of the year.
“We are now moving to reward the loyalty of our farmers to milk production and their co-op over this difficult period,” he added.
November milk price
Meanwhile, the co-op decided to hold its base milk price for November supplies.
Lakeland will pay a base price of 46.85c/l excluding VAT at 3.3% protein and 3.6% butterfat.
This is excluding a 0.48c/l sustainability payment, while qualifying farmers will also receive a 2.86c/l out-of-season payment, both excluding VAT.
In Northern Ireland (NI), a base price of 40.8p/l will be paid for milk supplied in November.
This is exclusive of the 0.5p/l sustainability payment and 3p/l out-of-season payment.
Markets
Commenting on the November price, the co-op said after a strong performance over the course of the second half of the year, dairy markets look weaker for 2025.
“Thankfully, demand remains solid, but volumes in the large milk-production regions of the world are increasing.
“The supply/demand dynamic will be monitored closely by Lakeland Dairies and we will continue to endeavour to support our farmers as best we can,” the statement added.
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