The board of Lakeland Dairies announced it will hold its base milk price for the month of June.

A price of 46.86c/l, excluding VAT, at 3.6% butterfat and 3.3% protein, will be paid for June milk in the Republic of Ireland (ROI) which is inclusive of a 0.47c/l, excluding VAT, unconditional bonus as well as the 0.47c/l, excluding VAT, sustainability incentive payment.

In Northern Ireland (NI), a price of 40.3p/l will be paid for milk supplied in June which is also inclusive of the 0.5p/l unconditional bonus on all milk supplied in June as well as the sustainability incentive payment.

“For the most part, global markets remain relatively stable despite the ongoing trade and geopolitical tensions,” a spokesperson for Lakeland Dairies said.

“However, continuing strong milk supplies in many regions are beginning to shift the supply/demand dynamic.

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

Lakeland is the first processor to set a price for June milk.