The latest milk price indicator (MPI) published by the Ulster Farmers Union has increased by almost 2p to 49.08p/l.

Allowing for transport costs, higher energy prices and a processor margin, the MPI points to a milk price in the region of 44p/l in early summer.

The latest increase means the MPI is currently 10p/l above its value at the beginning of the year and almost 17p/l above its corresponding value last April.

The price lift comes on the back of significant increases in butter and milk powder at last week’s Dutch Dairy Board auction.

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