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After a four month break, the Ulster Farmers’ Union (UFU) has published its milk price indicator (MPI), along with a summary of how the analysis has moved since the end of January 2023.
The latest MPI stands at 33.91p/l, which after deductions for transport and processor margins, points to a farmgate price in the region of 28p to 30p/l this summer.
When last published in January, the MPI stood at 39.17p/l. The indicator fell 9.75% in early February, although this slowed to a consistent 4% loss in value during March and April.
From April to the most recent MPI published, the price is down 0.23%.
Meanwhile, at Tuesday’s GDT auction, there was a setback for commodities, with index price falling 0.9% mainly as a result of a 3% drop in the value of whole milk powder.
Butter had a marginal increase of 0.5% with cheddar up 7.4%, while skim milk powder price was unchanged.
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