The MPI is published fortnightly by the UFU and aims to give NI dairy farmers an indication of returns available from commodity markets.
The indicator sat at 28.66ppl two weeks ago, with the latest jump representing the third successive MPI increase.
Butter prices continuing to increase and recovering of Skimmed Milk Powder (SMP) prices were cited by the UFU as positive market signals.
Dutch Dairy Board butter prices increased by a record €650/t over the past two weeks to €5,370/t, and SMP prices increased by €140/t over the same period to €1,970/t.
Milk prices in NI remained static for April milk, with most processors’ base prices sitting between 25ppl to 25.5ppl.
Any prices increases later this month for May milk would be justified by the continue positive outlook in dairy markets.