The latest milk price indicator (MPI) for NI has fallen 1.47p/l to 31.95p/l as dairy commodity prices continue to face market pressure.
Published by the UFU, the MPI is now at its lowest level, going back to mid-September 2021, and has fallen 8.29p/l from where it started off in 2023.
As the MPI is a forward-price indicator, there is a time lag in the region of six to eight weeks from when the MPI is published until markets are expected to deliver such returns.
The published indicator also excludes milk collection charges and processor margins, which allowing for a deduction of 4p to 5p/l, would indicate a base milk price in the region of 27p/l in early autumn.