Lakeland Dairies milk suppliers will see a 3.81c/l ex VAT reduction in November’s base milk price compared to the price they were paid for October milk.
The co-op has set last month’s base milk price at 34.02c/l ex VAT, with qualifying suppliers to receive a 0.5c/l sustainability payment.
Qualifying supplies will also receive an out-of-season top up.
A price of 28.8p/l will be paid to suppliers in Northern Ireland, including the sustainability incentive payment. This is a reduction of 3.5ppl on the price paid in October.
The co-op has said that it will pay a loyalty payment worth 0.3c/l on all milk supplied in 2025, with an equivalent top up of 0.25p/l to be paid to Northern suppliers.
The loyalty payment is to be included with in December’s milk cheque when it is paid out in January.
The price cut comes as Lakeland Dairies has warned that markets continue to put "significant pressure on farmgate prices".
"Global dairy supply continues to grow strongly with major exporting regions driving continued production increases," a co-op spokesperson said.
"This surge in output is outpacing weakened demand and creating an imbalance that is putting significant pressure on farmgate prices and affecting all dairy categories including, powders, butter and cheese."
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