The latest milk price indicator (MPI) published by the UFU has increased by 0.95p to 42.08p/l, reflecting the ongoing positive trends within dairy commodity markets.
Allowing for a conservative deduction of 3p/l to 4p/l to cover transport and processing costs, the MPI points to a farmgate milk price in the region of 38p to 39p/l though the spring period.
While this would be an unprecedented milk price for NI, it will be offset by the significant increase in production costs as a direct result of higher input costs.
The current MPI is 12p/l above the corresponding value for the same month last year, and would be marginally higher but for sterling strengthening in value against the euro in recent weeks.
Calf price update: early season price volatility evident
Lots of issues limiting supply leading to higher milk price stability