The board of Dairygold has decided to increase its February milk price by 1.6c/litre ex-VAT at base solids.
Dairygold was at 33.45c/litre ex-VAT in January, which included a 3c/litre unconditional early calving bonus.
That bonus drops to 2c/litre for February supplies. So it means the price paid for February supplies will be 34c/litre ex-VAT at base solids.
A Dairygold spokesperson said global milk supply and dairy demand have become more balanced over the past number of weeks.
Markets are currently experiencing strong Asian demand for dairy commodities, with some green shoots beginning to emerge from the food service sector.
As is customary, the Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis.
Meanwhile, the Arrabawn board has decided to increase its milk price for February by 1.42c/l ex-VAT to 31.84c/l ex-VAT.