Milk processors in NI have responded to the upturn in commodity markets by applying price increases for February.

The biggest increase comes from Glanbia Ireland, which has added 1.5p/l to its base. Glanbia also pays a 1.5p/l winter bonus for February, meaning its suppliers are on an all-in starting price of 30p/l.

With a 1p/l increase in base price, plus a 1p/l winter bonus on February milk, Strathroy Dairy is just behind with a starting price of 29.5p/l.

On Monday, Dale Farm announced it would add 1p/l to its February price which brings suppliers to a base of 28.55p/l, inclusive of its 0.3p/l loyalty bonus.

Glanbia Cheese is also lifting its base by 1p/l, bringing its starting price to 28p/l for milk supplied last month.

Lakeland Dairies was first to set a price for February and raised its base by 0.7p/l. NI’s largest processor continues to pay a 1p/l co-op bonus on top of base. All combined, this puts Lakeland’s suppliers on a starting price of 28.25p/l.

GDT

Meanwhile, this week’s GDT event recorded a 3.8% drop in the index price, the first negative result since November 2020. However, after a 15% increase on the 2 March, this week’s result is merely a market correction. Whole milk powder (WMP) fell by 6.2% with butter down 2.8%, although skim went up 0.7%.

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