Lakeland ups its February milk price
Lakeland Dairies has increased its February milk price by 0.5c to 26.28c including VAT.
The announcement comes just days after Glanbia agreed to raise its price to 26c/l.
It is not clear if other creameries will follow suit as many are holding meetings this week.
However, some have already indicated that there will be no move on their February prices.
IFA dairy committee chairman Kevin Kiersy said the IDB's decision to lift its base butter and skimmed milk powder April price was a vote of confidence in firmer markets.
"Co-ops must ensure that Irish farmers benefit from this, which requires a 2c/l February milk price increase, and the maximum possible further lift before peak," Mr Kiersey said.
Meanwhile, payments to dairy farmers from the €11.5m dairy compensation fund began yesterday.