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NI’s largest milk processor, Lakeland Dairies, has added 1p/l to its base price taking it to 33.25p/l for December, once the normal 3p/l winter bonus is added in.
Announcing the price, the co-op described global dairy markets as being “more favourable”, but also said they “remain delicately poised”, mainly due to uncertainty around demand.
That general positive trend in global dairy markets is reflected in the latest milk price indicator (MPI) for NI published by the Ulster Farmers’ Union, which has started January with a marginal 0.1p/l increase.
That brings the MPI to 35.53p/l, which is the highest it has been in 12 months. Factoring in a deduction for milk transport and a processing margin, the MPI continues to indicate a base milk price in the region of 32p/l for the early stages of 2024.
Britain
In Britain, several leading processors have announced prices for January, with Arla paying a base of 37.58p/l for manufacturing milk. However, that price is for milk at the standard base of 4.2% butterfat and 3.4% protein. Milk collection charges also have to be deducted. Muller will pay 36.5p/l for manufacturing milk supplied at similar levels of fat and protein, while First Milk is paying a 36p/l base for manufacturing milk in January, but will add 1p/l from 1 February.
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