Lakeland Dairies has increased its milk price by 1.19c/l excluding VAT for milk supplied in August.

This brings Lakeland’s base milk price for last month to 43.89c/l excluding VAT at 3.3% protein and 3.6% butterfat.

A 0.48c/l excluding VAT sustainability incentive will be paid to qualifying suppliers on top of this base price.

This latest rise from Lakeland comes following a 1.7c/l excluding VAT increase for July milk supplies.

Northern Ireland

In Northern Ireland, a base price of 38.3p/litre will be paid for milk supplied in August, which is inclusive of a 0.5p/l sustainability incentive payment.

The base price has increased by 1p/l from last month.

Global markets

A spokesperson for Lakeland Dairies said: “Global dairy markets are positive at present.

“As we enter the crucial demand period of quarter four of 2024 and quarter one of 2025 and, against a backdrop of muted milk supplies for the year, this is supporting global markets.

“Lakeland Dairies will continue to monitor the markets and will endeavour to support our farmers as best we can.”