The first milk prices of 2018 have been declared this week with processors taking a cautious, but positive line on dairy markets, and watching each other closely for any price moves.

Lakeland was first to set its January price and has effectively held its base price on 29p/l. However, the co-op has dropped its 1p/l butter bonus which was paid from September to December.

It was followed by Strathroy Dairy which has reduced its base from 29p/l to 28p/l. However, the Omagh-based processor pays a 1p/l winter bonus in January, so its price is effectively in line with Lakeland.

Glanbia Milk and Fivemiletown have made a similar move, reducing their base from 29.4p/l to 28.4p/l, with their year-round 0.6p/l bonus bringing them to an all-in price of 29p/l.

Dale Farm met on Wednesday and announced it was holding its base at 28.7p/l, which rises to 29p/l after applying its loyalty bonus.

MPI

After positive results at recent GDT and Dutch auctions, the latest MPI from the Ulster Farmers’ Union rose to 26.78p/l, an increase of 0.33p/l from late January.

Commodity prices increased again at this week’s Dutch auction with butter rising €140/t to €4,350/t.

Whole milk powder rose by €30/t to €2,590/t, the fifth successive price increase in a row. However, skim milk prices remain on the bottom at €1,360/t.

Read more

NDC chief warns about social media influencing diet