diff --git a/pkg/logql/log/labels.go b/pkg/logql/log/labels.go
index 343941b78c..f5b31616c6 100644
--- a/pkg/logql/log/labels.go
+++ b/pkg/logql/log/labels.go
@@ -385,9 +385,15 @@ func (b *LabelsBuilder) Set(category LabelCategory, n, v string) *LabelsBuilder
 	}
 	b.add[category] = append(b.add[category], labels.Label{Name: n, Value: v})
 
-	// Sometimes labels are set and later modified. Only record
-	// each label once
-	b.parserKeyHints.RecordExtracted(n)
+	if category == ParsedLabel {
+		// We record parsed labels as extracted so that future parse stages can
+		// quickly bypass any existing extracted fields.
+		//
+		// Note that because this is used for bypassing extracted fields, and
+		// because parsed labels always take precedence over structured metadata
+		// and stream labels, we must only call RecordExtracted for parsed labels.
+		b.parserKeyHints.RecordExtracted(n)
+	}
 	return b
 }
 
diff --git a/pkg/logql/log/parser.go b/pkg/logql/log/parser.go
index 6a40dcfe31..2aafafcd78 100644
--- a/pkg/logql/log/parser.go
+++ b/pkg/logql/log/parser.go
@@ -147,7 +147,7 @@ func (j *JSONParser) parseLabelValue(key, value []byte, dataType jsonparser.Valu
 			}
 			return field, true
 		})
-		if !ok {
+		if !ok || j.lbs.ParserLabelHints().Extracted(sanitizedKey) {
 			return nil
 		}
 		j.lbs.Set(ParsedLabel, sanitizedKey, readValue(value, dataType))
@@ -188,7 +188,7 @@ func (j *JSONParser) parseLabelValue(key, value []byte, dataType jsonparser.Valu
 
 	// reset the prefix position
 	j.prefixBuffer = j.prefixBuffer[:prefixLen]
-	if !ok {
+	if !ok || j.lbs.ParserLabelHints().Extracted(keyString) {
 		return nil
 	}
 
@@ -321,7 +321,7 @@ func (r *RegexpParser) Process(_ int64, line []byte, lbs *LabelsBuilder) ([]byte
 
 				return sanitize, true
 			})
-			if !ok {
+			if !ok || parserHints.Extracted(key) {
 				continue
 			}
 
@@ -387,7 +387,7 @@ func (l *LogfmtParser) Process(_ int64, line []byte, lbs *LabelsBuilder) ([]byte
 			}
 			return sanitized, true
 		})
-		if !ok {
+		if !ok || parserHints.Extracted(key) {
 			continue
 		}
 
@@ -459,7 +459,7 @@ func (l *PatternParser) Process(_ int64, line []byte, lbs *LabelsBuilder) ([]byt
 			name = name + duplicateSuffix
 		}
 
-		if !parserHints.ShouldExtract(name) {
+		if parserHints.Extracted(name) || !parserHints.ShouldExtract(name) {
 			continue
 		}
 
@@ -526,6 +526,14 @@ func (l *LogfmtExpressionParser) Process(_ int64, line []byte, lbs *LabelsBuilde
 		}
 	}
 
+	// alwaysExtract checks whether a key should be extracted regardless of other
+	// conditions.
+	alwaysExtract := func(key string) bool {
+		// Any key in the expression list should always be extracted.
+		_, ok := keys[key]
+		return ok
+	}
+
 	l.dec.Reset(line)
 	var current []byte
 	for !l.dec.EOL() {
@@ -546,14 +554,12 @@ func (l *LogfmtExpressionParser) Process(_ int64, line []byte, lbs *LabelsBuilde
 				return "", false
 			}
 
-			_, alwaysExtract := keys[sanitized]
-			if !alwaysExtract && !lbs.ParserLabelHints().ShouldExtract(sanitized) {
+			if !alwaysExtract(sanitized) && !lbs.ParserLabelHints().ShouldExtract(sanitized) {
 				return "", false
 			}
 			return sanitized, true
 		})
-
-		if !ok {
+		if !ok || (!alwaysExtract(key) && lbs.ParserLabelHints().Extracted(key)) {
 			continue
 		}
 
@@ -572,7 +578,7 @@ func (l *LogfmtExpressionParser) Process(_ int64, line []byte, lbs *LabelsBuilde
 		if _, ok := l.expressions[key]; ok {
 			if lbs.BaseHas(key) {
 				key = key + duplicateSuffix
-				if !lbs.ParserLabelHints().ShouldExtract(key) {
+				if lbs.ParserLabelHints().Extracted(key) || !lbs.ParserLabelHints().ShouldExtract(key) {
 					// Don't extract duplicates if we don't have to
 					break
 				}
@@ -784,7 +790,7 @@ func (u *UnpackParser) unpack(entry []byte, lbs *LabelsBuilder) ([]byte, error)
 				}
 				return field, true
 			})
-			if !ok {
+			if !ok || lbs.ParserLabelHints().Extracted(key) {
 				return nil
 			}
 
diff --git a/pkg/logql/log/parser_hints.go b/pkg/logql/log/parser_hints.go
index 32a789250d..660aa46372 100644
--- a/pkg/logql/log/parser_hints.go
+++ b/pkg/logql/log/parser_hints.go
@@ -19,7 +19,13 @@ func NoParserHints() ParserHint {
 //
 // All we need to extract is the status_code in the json parser.
 type ParserHint interface {
-	// Tells if a label with the given key should be extracted.
+	// Extracted returns whether a key has already been extracted by a previous
+	// parse stage. This result must not be cached.
+	Extracted(key string) bool
+
+	// Tells if a label with the given key should be extracted. Parsers may cache
+	// the result of ShouldExtract, so implementations of houldExtract must
+	// return consistent results for any log line or parser stage.
 	ShouldExtract(key string) bool
 
 	// Tells if there's any hint that start with the given prefix.
@@ -54,17 +60,20 @@ type Hints struct {
 	noLabels            bool
 	requiredLabels      []string
 	shouldPreserveError bool
-	extracted           []string
+	extracted           map[string]struct{}
 	labelFilters        []LabelFilterer
 	labelNames          []string
 }
 
+func (p *Hints) Extracted(key string) bool {
+	_, ok := p.extracted[key] // It's safe to read from a nil map.
+	return ok
+}
+
 func (p *Hints) ShouldExtract(key string) bool {
-	for _, l := range p.extracted {
-		if l == key {
-			return false
-		}
-	}
+	// The result of ShouldExtract gets cached in parser stages, so we must
+	// return consistent results throughout the lifetime of a query; this means
+	// we can't account for p.extracted here.
 
 	for _, l := range p.requiredLabels {
 		if l == key {
@@ -93,7 +102,10 @@ func (p *Hints) NoLabels() bool {
 }
 
 func (p *Hints) RecordExtracted(key string) {
-	p.extracted = append(p.extracted, key)
+	if p.extracted == nil {
+		p.extracted = make(map[string]struct{})
+	}
+	p.extracted[key] = struct{}{}
 }
 
 func (p *Hints) AllRequiredExtracted() bool {
@@ -103,11 +115,8 @@ func (p *Hints) AllRequiredExtracted() bool {
 
 	found := 0
 	for _, l := range p.requiredLabels {
-		for _, e := range p.extracted {
-			if l == e {
-				found++
-				break
-			}
+		if p.Extracted(l) {
+			found++
 		}
 	}
 
@@ -115,7 +124,7 @@ func (p *Hints) AllRequiredExtracted() bool {
 }
 
 func (p *Hints) Reset() {
-	p.extracted = p.extracted[:0]
+	clear(p.extracted)
 }
 
 func (p *Hints) PreserveError() bool {
@@ -159,7 +168,7 @@ func NewParserHint(requiredLabelNames, groups []string, without, noLabels bool,
 		}
 	}
 
-	extracted := make([]string, 0, len(hints))
+	extracted := make(map[string]struct{}, len(hints))
 	if noLabels {
 		if len(hints) > 0 {
 			return &Hints{requiredLabels: hints, extracted: extracted, shouldPreserveError: containsError(hints), labelFilters: labelFilters, labelNames: labelNames}
diff --git a/pkg/logql/log/parser_test.go b/pkg/logql/log/parser_test.go
index ffdb348974..3f6eb449bf 100644
--- a/pkg/logql/log/parser_test.go
+++ b/pkg/logql/log/parser_test.go
@@ -301,6 +301,10 @@ type fakeParseHints struct {
 	extractAll bool
 }
 
+func (p *fakeParseHints) Extracted(_ string) bool {
+	return false
+}
+
 func (p *fakeParseHints) ShouldExtract(key string) bool {
 	p.checkCount++
 	return key == p.label || p.extractAll
@@ -1149,7 +1153,7 @@ func TestLogfmtParser_parse(t *testing.T) {
 			[]byte(`foobar="foo bar" foobar=10ms`),
 			labels.FromStrings("foo", "bar"),
 			labels.FromStrings("foo", "bar",
-				"foobar", "10ms",
+				"foobar", "foo bar",
 			),
 			nil,
 			NoParserHints(),
@@ -1342,6 +1346,69 @@ func TestLogfmtParser_keepEmpty(t *testing.T) {
 	}
 }
 
+func TestLogfmtConsistentPrecedence(t *testing.T) {
+	line := `app=lowkey level=error ts=2021-02-12T19:18:10.037940878Z msg="hello world"`
+
+	t.Run("sturctured metadata first", func(t *testing.T) {
+		var (
+			metadataStream = NewBaseLabelsBuilder().
+					ForLabels(labels.FromStrings("foo", "bar"), 0).
+					Set(StructuredMetadataLabel, "app", "loki")
+
+			basicStream = NewBaseLabelsBuilder().
+					ForLabels(labels.FromStrings("foo", "baz"), 0)
+		)
+
+		parser := NewLogfmtParser(true, true)
+
+		_, ok := parser.Process(0, []byte(line), metadataStream)
+		require.True(t, ok)
+
+		_, ok = parser.Process(0, []byte(line), basicStream)
+		require.True(t, ok)
+
+		res, cat, ok := metadataStream.GetWithCategory("app")
+		require.Equal(t, "lowkey", res)
+		require.Equal(t, ParsedLabel, cat)
+		require.True(t, ok)
+
+		res, cat, ok = basicStream.GetWithCategory("app")
+		require.Equal(t, "lowkey", res)
+		require.Equal(t, ParsedLabel, cat)
+		require.True(t, ok)
+	})
+
+	t.Run("parsed labels first", func(t *testing.T) {
+		var (
+			metadataStream = NewBaseLabelsBuilder().
+					ForLabels(labels.FromStrings("foo", "bar"), 0).
+					Set(StructuredMetadataLabel, "app", "loki")
+
+			basicStream = NewBaseLabelsBuilder().
+					ForLabels(labels.FromStrings("foo", "baz"), 0)
+		)
+
+		parser := NewLogfmtParser(true, true)
+
+		_, ok := parser.Process(0, []byte(line), basicStream)
+		require.True(t, ok)
+
+		_, ok = parser.Process(0, []byte(line), metadataStream)
+		require.True(t, ok)
+
+		res, cat, ok := metadataStream.GetWithCategory("app")
+		require.Equal(t, "lowkey", res)
+		require.Equal(t, ParsedLabel, cat)
+		require.True(t, ok)
+
+		res, cat, ok = basicStream.GetWithCategory("app")
+		require.Equal(t, "lowkey", res)
+		require.Equal(t, ParsedLabel, cat)
+		require.True(t, ok)
+	})
+
+}
+
 func TestLogfmtExpressionParser(t *testing.T) {
 	testLine := []byte(`app=foo level=error spaces="value with ÜFT8👌" ts=2021-02-12T19:18:10.037940878Z`)