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Milk processors in NI have applied price cuts ranging from 0.5p to 1p/l to base prices for milk supplied in April.
The highest base price on offer is from Glanbia Milk/Fivemiletown, which cut its base by 0.5p/l. Along with its 0.6p/l year-round bonus, suppliers are now on a base of 23.75p/l, which is 0.5p/l more than its nearest competitors.
Next up is Aurivo, which applied a 0.75p/l price cut, bringing its base to 23.25p/l. The west of Ireland processor did hold in the Republic of Ireland, but dropped bonus payments there for early calving herds.
Elsewhere, Dale Farm reduced its base by 1p/, bringing it to 23.05p/l, a price which includes its 0.3p/l loyalty bonus.
Glanbia Cheese cut by 0.5p/l, putting its suppliers on a starting price of 22.25p/l, which is on a par with milk prices back in October 2016.
Lakeland set its price last week, making a 0.75p/l cut to a base of 23p/l. That price is matched by Strathroy, which took 1p/l off for April supplies. A full analysis of April prices will be outlined in milk leagues next week.
The highest base price on offer is from Glanbia Milk/Fivemiletown, which cut its base by 0.5p/l
While local co-ops have been taking prices down, there were further positive price moves at this week’s Dutch Dairy Board auction, with big gains for butter and powder.
Butter jumped by €200/t to €2,850, which is the third price increase in a row, with prices now similar to those at the end of March. However, it is still well short of the €4,084/t paid during May of last year.
Prices for milk powder were up for the second week in a row, with both skim and whole milk powder rising by €20/t to €2,000 and €2,998 respectively.
MPI
As European dairy markets gradually strengthen, there was a small increase in the UFU milk price indicator (MPI). A 0.1p/l increase brings the latest MPI to 26.78p/l, putting it at its highest level since March.
GDT
There was also a positive outcome at this week’s GDT auction, with the index price rising 1% to US $2,907/t, driven by a spike in demand for SMP. However, butter, cheddar and WMP all recorded price drops.
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