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Lakeland Dairies is the first processor to declare a price for October milk supplies and has raised its base by 0.5p/l.
The outlined increase brings NI’s largest processor to a starting price of 40.8p/l, inclusive of a 0.5p/l sustainability payment.
Announcing the October price, a spokesperson for the co-op said that global dairy markets, having strengthened through the third quarter of the year, have now stabilised, with “the supply and demand dynamic largely in balance”.
Bonus
From November through to next February, Lakeland’s 3p/l winter bonus kicks in and those bonuses should help bring NI prices more into line with those recently announced in Britain.
Arla will increase its November price for manufacturing milk by 2.66p/l to a 47.65p/l base, although this applies to milk supplied at 4.2% butterfat and 3.4% protein.
When adjusted to a base of 3.95% butterfat and 3.25% protein, similar to NI processors, that base price is reduced to 45.95p/l.
First Milk will increase its December price by 1.5p to 45.35p/l, which equates to a price of around 43.65p/l at NI base solids. Barbers is up 1.53p/l for December to 46.1p/l, which adjusts to 44.5p/l at NI solids.
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