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UFU MPI

Friday, 7 August, 2020

UFU Latest MPI

Friday 7 August 2020

UFU MPI: 28.01ppl (was 28.70) – Slight fall in MPI reflecting a 5.1% in this weeks GDT auction in New Zealand, reflecting weaker than expected demand in key Asian markets. ZuivelNL (Dutch Dairy Board) SMP prices slip €50/tonne to €2100 amidst weak trade, yet butter and fats remained unchanged.

UFU MPI graph download

 

Friday 24 July 2020 

UFU MPI: 28.70ppl (was 28.74ppl) - Index more or less unchanged in the last fortnight reflecting stable commodity dairy markets with traders in holiday mode. Up until now butter saw 12 consecutive weekly increases and cheese remained stable at higher prices despite lockdown uncertainty. Other dairy markets were also producing good returns which means that positive returns should continue to be reflected at the farm gate.

UFU MPI graph download

 

Friday 10 July 2020 

UFU MPI: 28.74ppl (up from 27.69ppl) – Significantly, New Zealand saw the Fonterra/GDT overall average price index up 8.3% this week, the 4th increase in a row and the largest since November 2016. Whole Milk Powder index was up a whopping 14%, an average price of US$3,208/tonne and Cheddar up 3.3% at $3,762/tonne.  Also, ZuivelNL/DDB saw butter up €180/tonne in the last two weeks.  All eyes will be on how local milk processors react to this continued recovery which is gathering pace and has been ongoing for 2 months.

UFU MPI graph download

 

Friday 26 June 2020 

UFU MPI: 27.69ppl (up from 27.29ppl) – Latest ZuivelNL results saw butter up €30/tonne to €3150 and whole milk powder up €50/tonne to €2680 (the largest increase for this product since October 2019). All indicating a recovering dairy commodity market on the back of rebounding demand.

UFU MPI graph download 

UFU MPI

Friday, 24 July, 2020

UFU Latest MPI

Friday 24 July 2020 

UFU MPI: 28.70ppl (was 28.74ppl) - Index more or less unchanged in the last fortnight reflecting stable commodity dairy markets with traders in holiday mode. Up until now butter saw 12 consecutive weekly increases and cheese remained stable at higher prices despite lockdown uncertainty. Other dairy markets were also producing good returns which means that positive returns should continue to be reflected at the farm gate.

UFU MPI graph download

 

Friday 10 July 2020 

UFU MPI: 28.74ppl (up from 27.69ppl) – Significantly, New Zealand saw the Fonterra/GDT overall average price index up 8.3% this week, the 4th increase in a row and the largest since November 2016. Whole Milk Powder index was up a whopping 14%, an average price of US$3,208/tonne and Cheddar up 3.3% at $3,762/tonne.  Also, ZuivelNL/DDB saw butter up €180/tonne in the last two weeks.  All eyes will be on how local milk processors react to this continued recovery which is gathering pace and has been ongoing for 2 months.

UFU MPI graph download

 

Friday 26 June 2020 

UFU MPI: 27.69ppl (up from 27.29ppl) – Latest ZuivelNL results saw butter up €30/tonne to €3150 and whole milk powder up €50/tonne to €2680 (the largest increase for this product since October 2019). All indicating a recovering dairy commodity market on the back of rebounding demand.

UFU MPI graph download 

 

Friday 12 June 2020 

UFU MPI: 27.29ppl (up from 26.98ppl) – The rise in the Ulster Farmers’ Union Milk Price Index (MPI), reflects recovering dairy commodity prices, with Dutch butter up a further €140/tonne to €3120 and skimmed milk powder (SMP) rising €130/tonne to €2200. SMP now back to pre-lockdown levels. With grass growth below average for May, peak production was flatter than anticipated and this combined with rising commodity prices should have a positive impact on farmgate prices in Northern Ireland.

UFU MPI graph download

UFU MPI

Friday, 10 July, 2020

UFU Latest MPI

Friday 10 July 2020 

UFU MPI: 28.74ppl (up from 27.69ppl) – Significantly, New Zealand saw the Fonterra/GDT overall average price index up 8.3% this week, the 4th increase in a row and the largest since November 2016. Whole Milk Powder index was up a whopping 14%, an average price of US$3,208/tonne and Cheddar up 3.3% at $3,762/tonne.  Also, ZuivelNL/DDB saw butter up €180/tonne in the last two weeks.  All eyes will be on how local milk processors react to this continued recovery which is gathering pace and has been ongoing for 2 months.

UFU MPI graph download

 

Friday 26 June 2020 

UFU MPI: 27.69ppl (up from 27.29ppl) – Latest ZuivelNL results saw butter up €30/tonne to €3150 and whole milk powder up €50/tonne to €2680 (the largest increase for this product since October 2019). All indicating a recovering dairy commodity market on the back of rebounding demand.

UFU MPI graph download 

 

Friday 12 June 2020 

UFU MPI: 27.29ppl (up from 26.98ppl) – The rise in the Ulster Farmers’ Union Milk Price Index (MPI), reflects recovering dairy commodity prices, with Dutch butter up a further €140/tonne to €3120 and skimmed milk powder (SMP) rising €130/tonne to €2200. SMP now back to pre-lockdown levels. With grass growth below average for May, peak production was flatter than anticipated and this combined with rising commodity prices should have a positive impact on farmgate prices in Northern Ireland.

UFU MPI graph download

 

Friday 29 May 2020

UFU MPI: 26.98ppl (Up from 26.78ppl) – MPI reflects significant positive sentiments in dairy commodity prices, with Dutch butter up €330/tonne in the last two weeks. Increases in SMP have seen it back to levels seen this time last year. Peak production has passed and with dry weather continuing this will impact milk supplies and help underpin prices.

UFU MPI graph download 

UFU MPI

Friday, 26 June, 2020

UFU Latest MPI

Friday 26 June 2020 

UFU MPI: 27.69ppl (up from 27.29ppl) – Latest ZuivelNL results saw butter up €30/tonne to €3150 and whole milk powder up €50/tonne to €2680 (the largest increase for this product since October 2019). All indicating a recovering dairy commodity market on the back of rebounding demand.

UFU MPI graph download 

 

Friday 12 June 2020 

UFU MPI: 27.29ppl (up from 26.98ppl) – The rise in the Ulster Farmers’ Union Milk Price Index (MPI), reflects recovering dairy commodity prices, with Dutch butter up a further €140/tonne to €3120 and skimmed milk powder (SMP) rising €130/tonne to €2200. SMP now back to pre-lockdown levels. With grass growth below average for May, peak production was flatter than anticipated and this combined with rising commodity prices should have a positive impact on farmgate prices in Northern Ireland.

UFU MPI graph download

 

Friday 29 May 2020

UFU MPI: 26.98ppl (Up from 26.78ppl) – MPI reflects significant positive sentiments in dairy commodity prices, with Dutch butter up €330/tonne in the last two weeks. Increases in SMP have seen it back to levels seen this time last year. Peak production has passed and with dry weather continuing this will impact milk supplies and help underpin prices.

UFU MPI graph download 

 

Friday 15 May 2020

UFU MPI: 26.78ppl (up from 26.68ppl) – signs of recovery in demand for commodity dairy products continue with Dutch butter up €40/tonne, Whole Milk Powder up €30/tonne, Skimmed Milk Powder up €80/tonne and also Mozzarella up €100/tonne. Meanwhile spot milk prices are stable. This should have a stabilising impact on farmgate milk prices.

UFU MPI graph download 

UFU MPI

Friday, 15 May, 2020

UFU Latest MPI

Friday 15 May 2020

UFU MPI: 26.78ppl (up from 26.68ppl) – signs of recovery in demand for commodity dairy products continue with Dutch butter up €40/tonne, Whole Milk Powder up €30/tonne, Skimmed Milk Powder up €80/tonne and also Mozzarella up €100/tonne. Meanwhile spot milk prices are stable. This should have a stabilising impact on farmgate milk prices.

UFU MPI graph download 

 

Friday 1 May 2020 

UFU MPI: 26.68ppl (down 0.20ppl from 26.88ppl) – Dairy commodity prices have reached a hiatus and this is reflected in the latest MPI. The Dutch Dairy Board/ZuivelNL have this week left four of their five official dairy commodity prices unchanged, with just the SMP (food grade) price raised by €20 to €1,900/tonne. Butter is unchanged at €2,570/tonne, WMP is unchanged at €2,550/t, SMP (feed) is unchanged at €1,780/t and whey powder unchanged at €700/t.

UFU MPI graph download 

 

Friday 17 April 2020 

UFU MPI: 26.88ppl (was 27.47ppl) - COVID-19 continues to impact on the global economy and specifically commodity dairy prices. Whilst we saw two further falls in butter (Dutch ZuivelNL butter down €150/tonne to €2,550/tonne and WMP was cut by €120/tonne), there was a slight plateau in some products. Dutch SMP was left unchanged it crucially remains higher than Intervention levels. Interestingly the official whey powder price was increased by €30 to €660/t.

UFU MPI graph download 

 

Friday 3 April 2020

UFU MPI: 27.47ppl – A weakened MPI reflecting the fact that dairy commodity markets have come under extreme pressure over the last two weeks with the impact of the coronavirus pandemic being felt. Butter is down €200/tonne and powders down by a similar amount, yet cheese is holding its own.  Furthermore, the retail spike seen previously is beginning to plateau.

UFU MPI graph download 

UFU MPI

Friday, 17 April, 2020

UFU Latest MPI

Friday 17th April 2020 

UFU MPI: 26.88ppl (was 27.47ppl) - COVID-19 continues to impact on the global economy and specifically commodity dairy prices. Whilst we saw two further falls in butter (Dutch ZuivelNL butter down €150/tonne to €2,550/tonne and WMP was cut by €120/tonne), there was a slight plateau in some products. Dutch SMP was left unchanged it crucially remains higher than Intervention levels. Interestingly the official whey powder price was increased by €30 to €660/t.

UFU MPI graph download 

 

Friday 3rd April 2020

UFU MPI: 27.47ppl – A weakened MPI reflecting the fact that dairy commodity markets have come under extreme pressure over the last two weeks with the impact of the coronavirus pandemic being felt. Butter is down €200/tonne and powders down by a similar amount, yet cheese is holding its own.  Furthermore, the retail spike seen previously is beginning to plateau.

UFU MPI graph download 

 

Friday 20th March 2020

UFU MPI: 29.86ppl - Covid-19 impacting upon powders specifically, with negativity on WMP in New Zealand down 4.2% at the latest GDT event and Dutch Dairy Board/ZuivelNL cut their official SMP and whey powder prices. Yet other products are relatively stable with New Zealand cheddar up 2.6% and the impact of increased retail demand mitigating against falling powder prices. Covid-19 has seen massive exchange rate corrections which has had a positive impact on the Index as well.

UFU MPI graph download 

 

Friday 6th March 2020

UFU MPI: 28.80ppl (was 29.23ppl) - GDT average in New Zealand slipped 1.6 percent and there were falls for all Dutch dairy commodities with the exception of butter which remained unchanged. Coronavirus creating difficulties in shipping/supply chains and this has slowed the market.


UFU MPI graph download 

UFU MPI

Friday, 12 June, 2020

UFU Latest MPI

Friday 12 June 2020 

UFU MPI: 27.29ppl (up from 26.98ppl) – The rise in the Ulster Farmers’ Union Milk Price Index (MPI), reflects recovering dairy commodity prices, with Dutch butter up a further €140/tonne to €3120 and skimmed milk powder (SMP) rising €130/tonne to €2200. SMP now back to pre-lockdown levels. With grass growth below average for May, peak production was flatter than anticipated and this combined with rising commodity prices should have a positive impact on farmgate prices in Northern Ireland.

UFU MPI graph download

 

Friday 29 May 2020

UFU MPI: 26.98ppl (Up from 26.78ppl) – MPI reflects significant positive sentiments in dairy commodity prices, with Dutch butter up €330/tonne in the last two weeks. Increases in SMP have seen it back to levels seen this time last year. Peak production has passed and with dry weather continuing this will impact milk supplies and help underpin prices.

UFU MPI graph download 

 

Friday 15 May 2020

UFU MPI: 26.78ppl (up from 26.68ppl) – signs of recovery in demand for commodity dairy products continue with Dutch butter up €40/tonne, Whole Milk Powder up €30/tonne, Skimmed Milk Powder up €80/tonne and also Mozzarella up €100/tonne. Meanwhile spot milk prices are stable. This should have a stabilising impact on farmgate milk prices.

UFU MPI graph download 

 

Friday 1 May 2020 

UFU MPI: 26.68ppl (down 0.20ppl from 26.88ppl) – Dairy commodity prices have reached a hiatus and this is reflected in the latest MPI. The Dutch Dairy Board/ZuivelNL have this week left four of their five official dairy commodity prices unchanged, with just the SMP (food grade) price raised by €20 to €1,900/tonne. Butter is unchanged at €2,570/tonne, WMP is unchanged at €2,550/t, SMP (feed) is unchanged at €1,780/t and whey powder unchanged at €700/t.

UFU MPI graph download 

UFU MPI

Friday, 3 April, 2020

UFU Latest MPI

Friday 3rd April 2020

UFU MPI: 27.47ppl – A weakened MPI reflecting the fact that dairy commodity markets have come under extreme pressure over the last two weeks with the impact of the coronavirus pandemic being felt. Butter is down €200/tonne and powders down by a similar amount, yet cheese is holding its own.  Furthermore, the retail spike seen previously is beginning to plateau.

UFU MPI graph download 

 

Friday 20th March 2020

UFU MPI: 29.86ppl - Covid-19 impacting upon powders specifically, with negativity on WMP in New Zealand down 4.2% at the latest GDT event and Dutch Dairy Board/ZuivelNL cut their official SMP and whey powder prices. Yet other products are relatively stable with New Zealand cheddar up 2.6% and the impact of increased retail demand mitigating against falling powder prices. Covid-19 has seen massive exchange rate corrections which has had a positive impact on the Index as well.

UFU MPI graph download 

 

Friday 6th March 2020

UFU MPI: 28.80ppl (was 29.23ppl) - GDT average in New Zealand slipped 1.6 percent and there were falls for all Dutch dairy commodities with the exception of butter which remained unchanged. Coronavirus creating difficulties in shipping/supply chains and this has slowed the market.


UFU MPI graph download 

 

Friday 21st February 2020

UFU MPI: 29.23ppl (down from 29.77) – GDT in New Zealand slipped 2.9 percent, but cheddar saw further positive returns. DDB/ZuivelNL saw a fall in all dairy prices.  Coronavirus continues to have an impact on dairy commodity prices, although some has said this could have a short-term impact.

UFU MPI graph download 

UFU MPI

Friday, 21 February, 2020

UFU Latest MPI

Friday 21st February 2020

UFU MPI: 29.23ppl (down from 29.77) – GDT in New Zealand slipped 2.9 percent, but cheddar saw further positive returns. DDB/ZuivelNL saw a fall in all dairy prices.  Coronavirus continues to have an impact on dairy commodity prices, although some has said this could have a short-term impact.

UFU MPI graph download 

 

Friday 7th February 2020

UFU MPI: 29.77ppl (was 29.95pplppl) - GDT in New Zealand saw its first fall this year with the overall index down 4.7 percent, driven by weaker demand for milk powders.  A total 29,006t of product was sold, down 12.5 percent from two weeks ago but up 31 percent on this time last year.  Dutch Dairy Board/ZuivelNL made two changes to their official dairy commodity prices this week, with WMP up by €20 to €3,040/tonne and whey powder down €10 to €820/tonne and remaining product prices were unchanged.UFU Latest MPI.

UFU MPI graph download 

 

Friday 24th January 2020

UFU MPI: 29.95ppl (up from 29.51ppl) – Further rises for dairy commodity products with GDT Index in New Zealand up 1.7% and most Dutch products positive, notably whey powder up €60/tonne in two weeks.  Demand for UK cheddar has risen on the back of significant trade in the Middle East with product rising £50/tonne.

UFU MPI graph download 

 

Friday 10th January 2020

UFU MPI: 29.51ppl (was 29.49ppl) - GDT auction in New Zealand opened 2020 up 2.8%, with WMP up 1.7% to $3,150/tonne and Cheddar rose 3.7% at $4,015/tonne. A total 33,050t of product was sold, 15.3% increase on 12 months ago. In the Netherlands, DDB/ZuivelNL cut three of their official dairy commodity prices. Butter slipped €40 to €3,550/tonne, WMP down €30 to €3,100/t and SMP (feed grade) down €20 to €2,460/tonne, reflecting the fall seen in NZ just before Christmas.

UFU MPI graph download 

 

UFU MPI

Friday, 6 March, 2020

UFU Latest MPI

Friday 6th March 2020

UFU MPI: 28.80ppl (was 29.23ppl) - GDT average in New Zealand slipped 1.6 percent and there were falls for all Dutch dairy commodities with the exception of butter which remained unchanged. Coronavirus creating difficulties in shipping/supply chains and this has slowed the market.

UFU MPI graph download 

 

Friday 21st February 2020

UFU MPI: 29.23ppl (down from 29.77) – GDT in New Zealand slipped 2.9 percent, but cheddar saw further positive returns. DDB/ZuivelNL saw a fall in all dairy prices.  Coronavirus continues to have an impact on dairy commodity prices, although some has said this could have a short-term impact.

UFU MPI graph download 

 

Friday 7th February 2020

UFU MPI: 29.77ppl (was 29.95pplppl) - GDT in New Zealand saw its first fall this year with the overall index down 4.7 percent, driven by weaker demand for milk powders.  A total 29,006t of product was sold, down 12.5 percent from two weeks ago but up 31 percent on this time last year.  Dutch Dairy Board/ZuivelNL made two changes to their official dairy commodity prices this week, with WMP up by €20 to €3,040/tonne and whey powder down €10 to €820/tonne and remaining product prices were unchanged.UFU Latest MPI.

UFU MPI graph download 

 

Friday 24th January 2020

UFU MPI: 29.95ppl (up from 29.51ppl) – Further rises for dairy commodity products with GDT Index in New Zealand up 1.7% and most Dutch products positive, notably whey powder up €60/tonne in two weeks.  Demand for UK cheddar has risen on the back of significant trade in the Middle East with product rising £50/tonne.

UFU MPI graph download 

UFU MPI

Friday, 24 January, 2020

UFU Latest MPI

Friday 24th January 2020

UFU MPI: 29.95ppl (up from 29.51ppl) – Further rises for dairy commodity products with GDT Index in New Zealand up 1.7% and most Dutch products positive, notably whey powder up €60/tonne in two weeks.  Demand for UK cheddar has risen on the back of significant trade in the Middle East with product rising £50/tonne.

UFU MPI graph download 

 

Friday 10th January 2020

UFU MPI: 29.51ppl (was 29.49ppl) - GDT auction in New Zealand opened 2020 up 2.8%, with WMP up 1.7% to $3,150/tonne and Cheddar rose 3.7% at $4,015/tonne. A total 33,050t of product was sold, 15.3% increase on 12 months ago. In the Netherlands, DDB/ZuivelNL cut three of their official dairy commodity prices. Butter slipped €40 to €3,550/tonne, WMP down €30 to €3,100/t and SMP (feed grade) down €20 to €2,460/tonne, reflecting the fall seen in NZ just before Christmas.

UFU MPI graph download 

 

Friday 20th December 2019

UFU MPI: 29.49ppl (was 30.05ppl) - GDT all product in New Zealand slipped 5.1% however, all Dutch dairy commodity prices remained unchanged. Surge in value of sterling following general election impacted too. UFU MPI has risen 7.24% since start of 2019, and yet the base milk price paid by local processors has fallen 7.61%.

UFU MPI graph download 

 

Friday 6th December 2019

UFU MPI: 30.05ppl (was 29.80ppl) - €30/tonne increase for both whole (WMP) and skimmed milk powders (SMP) in the Netherlands and also gains for the same products at the GDT event in New Zealand. UFU MPI at its highest since October 2017 and this despite pound sterling reaching a 31-month high against euro and its highest level against the US dollar for over six months.

UFU MPI graph download 

UFU MPI

Friday, 20 December, 2019

UFU Latest MPI

Friday 20th December 2019

UFU MPI: 29.49ppl (was 30.05ppl) - GDT all product in New Zealand slipped 5.1% however, all Dutch dairy commodity prices remained unchanged. Surge in value of sterling following general election impacted too. UFU MPI has risen 7.24% since start of 2019, and yet the base milk price paid by local processors has fallen 7.61%.

UFU MPI graph download 

 

Friday 6th December 2019

UFU MPI: 30.05ppl (was 29.80ppl) - €30/tonne increase for both whole (WMP) and skimmed milk powders (SMP) in the Netherlands and also gains for the same products at the GDT event in New Zealand. UFU MPI at its highest since October 2017 and this despite pound sterling reaching a 31-month high against euro and its highest level against the US dollar for over six months.

UFU MPI graph download 

 

Friday 22nd November 2019

UFU MPI: 29.80ppl (up from 28.94ppl): GDT in New Zealand this week up by 1.8%, the fifth consecutive increase in the all product index.  Closer to home, SMP continues to rise, with both feed and food grades up by €40/tonne. This is having a positive impact upon mozzarella prices.

UFU MPI graph download 

 

Friday 8th November 2019

UFU MPI: 28.94ppl (up from 28.48ppl) – Market sentiment continues to grow, with all dairy commodity prices rising in the Netherlands this week with butter and whey up €30/tonne. Powders are also rising and this was also reflected in the GDT auction in New Zealand where a 3.7% increase in the All Product Index was spurred on by a 3.4% rise for WMP (now $3254/tonne) and 6.7% jump for SMP ($2924/tonne).

UFU MPI graph download 

UFU MPI

Friday, 22 November, 2019

UFU Latest MPI

Friday 22nd November 2019

UFU MPI: 29.80ppl (up from 28.94ppl): GDT in New Zealand this week up by 1.8%, the fifth consecutive increase in the all product index.  Closer to home, SMP continues to rise, with both feed and food grades up by €40/tonne. This is having a positive impact upon mozzarella prices.

UFU MPI graph download 

 

Friday 8th November 2019

UFU MPI: 28.94ppl (up from 28.48ppl) – Market sentiment continues to grow, with all dairy commodity prices rising in the Netherlands this week with butter and whey up €30/tonne. Powders are also rising and this was also reflected in the GDT auction in New Zealand where a 3.7% increase in the All Product Index was spurred on by a 3.4% rise for WMP (now $3254/tonne) and 6.7% jump for SMP ($2924/tonne).

UFU MPI graph download 

 

Friday 18th October 2019

UFU MPI: 28.48ppl – Dairy commodity prices continue to strengthen. For the second week in a row, every dairy commodity in the ZuivelNL Dutch trade increased in value.  However, the strength of sterling has impacted upon the indicator. Sterling has reached a 21-week high against the euro, gaining almost 3.55% since the last MPI calculation a fortnight ago.

UFU MPI graph download

 

Friday 4th October 2019

UFU MPI: 29.02ppl (up from 28.48ppl) - Latest increase buoyed by further increases in commodity dairy prices. Despite slow butter trade, Dutch prices have risen €100 in the last 4 weeks.  In the last 2 weeks, powder prices have made very good gains, with skimmed up by €110/tonne and WMP up by €40/tonne. Elsewhere cheese prices are moving upwards with positive returns for gouda and mozzarella.

UFU MPI graph download

UFU MPI

Friday, 6 December, 2019

UFU Latest MPI

Friday 6th December 2019

UFU MPI: 30.05ppl (was 29.80ppl) - €30/tonne increase for both whole (WMP) and skimmed milk powders (SMP) in the Netherlands and also gains for the same products at the GDT event in New Zealand. UFU MPI at its highest since October 2017 and this despite pound sterling reaching a 31-month high against euro and its highest level against the US dollar for over six months.

UFU MPI graph download 

 

Friday 22nd November 2019

UFU MPI: 29.80ppl (up from 28.94ppl): GDT in New Zealand this week up by 1.8%, the fifth consecutive increase in the all product index.  Closer to home, SMP continues to rise, with both feed and food grades up by €40/tonne. This is having a positive impact upon mozzarella prices.

UFU MPI graph download 

 

Friday 8th November 2019

UFU MPI: 28.94ppl (up from 28.48ppl) – Market sentiment continues to grow, with all dairy commodity prices rising in the Netherlands this week with butter and whey up €30/tonne. Powders are also rising and this was also reflected in the GDT auction in New Zealand where a 3.7% increase in the All Product Index was spurred on by a 3.4% rise for WMP (now $3254/tonne) and 6.7% jump for SMP ($2924/tonne).

UFU MPI graph download 

 

Friday 18th October 2019

UFU MPI: 28.48ppl – Dairy commodity prices continue to strengthen. For the second week in a row, every dairy commodity in the ZuivelNL Dutch trade increased in value.  However, the strength of sterling has impacted upon the indicator. Sterling has reached a 21-week high against the euro, gaining almost 3.55% since the last MPI calculation a fortnight ago.

UFU MPI graph download

UFU MPI

Friday, 8 November, 2019

UFU Latest MPI

Friday 8th November 2019

UFU MPI: 28.94ppl (up from 28.48ppl) – Market sentiment continues to grow, with all dairy commodity prices rising in the Netherlands this week with butter and whey up €30/tonne. Powders are also rising and this was also reflected in the GDT auction in New Zealand where a 3.7% increase in the All Product Index was spurred on by a 3.4% rise for WMP (now $3254/tonne) and 6.7% jump for SMP ($2924/tonne).

UFU MPI graph download 

 

Friday 18th October 2019

UFU MPI: 28.48ppl – Dairy commodity prices continue to strengthen. For the second week in a row, every dairy commodity in the ZuivelNL Dutch trade increased in value.  However, the strength of sterling has impacted upon the indicator. Sterling has reached a 21-week high against the euro, gaining almost 3.55% since the last MPI calculation a fortnight ago.

UFU MPI graph download 

 

Friday 4th October 2019

UFU MPI: 29.02ppl (up from 28.48ppl) - Latest increase buoyed by further increases in commodity dairy prices. Despite slow butter trade, Dutch prices have risen €100 in the last 4 weeks.  In the last 2 weeks, powder prices have made very good gains, with skimmed up by €110/tonne and WMP up by €40/tonne. Elsewhere cheese prices are moving upwards with positive returns for gouda and mozzarella.

UFU MPI graph download

 

Friday 20th September 2019

UFU MPI: 28.46ppl – GDT Index in New Zealand rose by 2% and four out of five dairy commodity products rose at ZuivelNL in the Netherlands, with butter up by €30/tonne to €3470 and SMP (Food grade) up by €40/tonne to €2,210.  Further increases in MPI tempered by the recovery in the value of Sterling with the Pound reaching a 6-week against the US Dollar and a similar recovery against the Euro.

UFU MPI graph download

UFU MPI

Friday, 10 January, 2020

UFU Latest MPI

Friday 10th January 2020

UFU MPI: 29.51ppl (was 29.49ppl) - GDT auction in New Zealand opened 2020 up 2.8%, with WMP up 1.7% to $3,150/tonne and Cheddar rose 3.7% at $4,015/tonne. A total 33,050t of product was sold, 15.3% increase on 12 months ago. In the Netherlands, DDB/ZuivelNL cut three of their official dairy commodity prices. Butter slipped €40 to €3,550/tonne, WMP down €30 to €3,100/t and SMP (feed grade) down €20 to €2,460/tonne, reflecting the fall seen in NZ just before Christmas.

UFU MPI graph download 

 

Friday 20th December 2019

UFU MPI: 29.49ppl (was 30.05ppl) - GDT all product in New Zealand slipped 5.1% however, all Dutch dairy commodity prices remained unchanged. Surge in value of sterling following general election impacted too. UFU MPI has risen 7.24% since start of 2019, and yet the base milk price paid by local processors has fallen 7.61%.

UFU MPI graph download 

 

Friday 6th December 2019

UFU MPI: 30.05ppl (was 29.80ppl) - €30/tonne increase for both whole (WMP) and skimmed milk powders (SMP) in the Netherlands and also gains for the same products at the GDT event in New Zealand. UFU MPI at its highest since October 2017 and this despite pound sterling reaching a 31-month high against euro and its highest level against the US dollar for over six months.

UFU MPI graph download 

 

Friday 22nd November 2019

UFU MPI: 29.80ppl (up from 28.94ppl): GDT in New Zealand this week up by 1.8%, the fifth consecutive increase in the all product index.  Closer to home, SMP continues to rise, with both feed and food grades up by €40/tonne. This is having a positive impact upon mozzarella prices.

UFU MPI graph download

UFU MPI

Friday, 20 September, 2019

UFU Latest MPI

Friday 20th September 2019

UFU MPI: 28.46ppl – GDT Index in New Zealand rose by 2% and four out of five dairy commodity products rose at ZuivelNL in the Netherlands, with butter up by €30/tonne to €3470 and SMP (Food grade) up by €40/tonne to €2,210.  Further increases in MPI tempered by the recovery in the value of Sterling with the Pound reaching a 6-week against the US Dollar and a similar recovery against the Euro.

UFU MPI graph download

 

Friday 6th September 2019

UFU MPI: 28.61ppl (was 28.62ppl). Dutch Dairy Board/ZuivelNL saw increases for four out of five products this week, with WMP up €50/tonne, the largest increase in nine months, and butter up for the second consecutive week.  Elsewhere, the latest GDT trading in New Zealand event was down by 0.4%. Significant since product sold was almost 40,000 tonnes, up over 5,000 tonnes on the last event two weeks ago.

UFU MPI graph download

 

Friday 23rd August 2019

UFU MPI: 28.62ppl (was 28.69ppl) – The MPI is more or less unchanged in the last fortnight. Reflecting a 0.2% change in the GDT index where 34,410 tonnes were sold, which was only down 1.4% and is significant in terms of demand. There was little change in Dutch dairy commodity prices, but crucially, Dutch butter remained unchanged for the first time in four months indicating that it may have at last reached the floor.

UFU MPI graph download

 

Friday 9th August 2019

UFU MPI: 28.69ppl (up from 28.28ppl) – in the three weeks since the last published MPI, sterling has weakened significantly against the US dollar and the euro. Dutch Dairy Board/ZuilveNL this week only saw a fall in one dairy product range, with butter continuing to slip. However, there were increases for WMP and SMP. In New Zealand the GDT increase slipped by 2.6%, however, there was a 40% increase in volume traded since the last GDT event with 34,969 tonnes of product sold.

UFU MPI graoh download 

UFU MPI

Friday, 23 August, 2019

UFU Latest MPI

Friday 23rd August 2019

UFU MPI: 28.62ppl (was 28.69ppl) – The MPI is more or less unchanged in the last fortnight. Reflecting a 0.2% change in the GDT index where 34,410 tonnes were sold, which was only down 1.4% and is significant in terms of demand. There was little change in Dutch dairy commodity prices, but crucially, Dutch butter remained unchanged for the first time in four months indicating that it may have at last reached the floor.

UFU MPI graph download 

 

Friday 9th August 2019

UFU MPI: 28.69ppl (up from 28.28ppl) – in the three weeks since the last published MPI, sterling has weakened significantly against the US dollar and the euro. Dutch Dairy Board/ZuilveNL this week only saw a fall in one dairy product range, with butter continuing to slip. However, there were increases for WMP and SMP. In New Zealand the GDT increase slipped by 2.6%, however, there was a 40% increase in volume traded since the last GDT event with 34,969 tonnes of product sold.

UFU MPI graph download 

 

Friday 19th July 2019

UFU MPI: 28.28ppl (up from 27.95ppl) – After four successive falls the GDT index in New Zealand increased 2.7% on 16th July, an average of US$3,412/tonne. WMP rose by 3.6% to $3,074/tonne and cheddar was up 3.3% at $3,869/tonne. A total 25,000t of product was sold, 1.2% more than at the last event. The Dutch Dairy Board/ZuivelNL saw butter slip by €20 to €3,580/tonne. Whilst WMP was unchanged at €2,740/tonne, SMP (food grade) increased by €30 to €2,070/tonne, its second successive weekly increase.

UFU MPI graph download 

 

Friday 5th July 2019

UFU MPI: 27.95ppl (was 28.35ppl) – GDT in New Zealand All Product index was down by 0.4% to $3302 but the slip in butter commodity prices continued in European markets, with latest prices €3630/tonne.  Yet there has been positive cream prices in the last few weeks and these have been bucking the butter trend, with prices rising on the back of summer demand.  Otherwise trade is very quiet but cheese prices remain robust.

UFU MPI graph download 

UFU MPI

Friday, 6 September, 2019

UFU latest MPI

6th September 2019

UFU MPI: 28.61ppl (was 28.62ppl) - Dutch Dairy Board/ZuivelNL saw increases for four out of five products this week, with WMP up €50/tonne, the largest increase in nine months, and butter up for the second consecutive week.  Elsewhere, the latest GDT trading in New Zealand event was down by 0.4%. Significant since product sold was almost 40,000 tonnes, up over 5,000 tonnes on the last event two weeks ago.

 

 

 

 

 

 

UFU MPI graph download

LINK TO PREVIOUS MPI FIGURES

UFU MPI

Friday, 4 January, 2019

UFU latest MPI

UFU MPI: 27.50ppl up from 27.29ppl - Dairy commodity markets have continued to strengthen, with powder leading the way as predicted.  In New Zealand, the first GDT auction of 2019 saw the average selling price index up 2.8%, the third consecutive increase. The WMP price index was up 1.2% at an average price of US$2,705/tonne and SMP rose by 7.9% at $2,201/tonne. Butter was up 3.9% at $4,076/tonne and Cheddar was up 3.2% at $3,371/tonne. Meanwhile in the Netherlands, SMP (food grade) increased by €60 to €1,790/tonne (28% higher than a year earlier); SMP (feed) rose by €40 to €1,550/tonne (21% above a year ago) and whey powder reached €790/tonne (up 34% on a year earlier). Butter and WMP remain unchanged.

UFU MPI graph download

UFU MPI

Friday, 21 December, 2018

UFU MPI Latest

UFU MPI – 27.29ppl ( down from 27.49ppl) – The minor slip reflects the predicted drop in UK mild cheddar prices, although dairy commodity markets are ending the year stable, with positivity continuing to be reflected in rising milk powder prices.  Netherlands saw SMP up €30/tonne for all grades and WMP also up €30/tonne.  In New Zealand, GDT rose for the second consecutive event, up by 1.7% with SMP the highest rising product.

UFU MPI Graph Download

UFU MPI

Friday, 7 December, 2018

UFU MPI Latest

UFU MPI: 27.47ppl (up from 27.31ppl) – Dutch Dairy Commodity Prices showed continued strength for powders, with food grade SMP up €40/tonne and feed grade up € 50/tonne, with WMP rising by €20/tonne, the first rise since June 2018. Elsewhere GDT in New Zealand saw their price index up by 2.2%, the first increase in 6 months.

UFU MPI Graph Download

UFU MPI

Friday, 23 November, 2018

UFU MPI Latest

UFU MPI – 27.31ppl (up by 0.46ppl).  Both a reflection of a weakened Sterling on the back of recent Exchange Rate reaction to the draft Brexit agreement and relatively stable dairy commodity markets, the only negative in Dutch markets was a €50/tonne slip in butter, all other products remained unchanged.

UFU MPI Graph Download 

UFU MPI

Friday, 9 November, 2018

UFU MPI Latest

MPI 26.85ppl: After a weakening in commodity butter/cream prices earlier in the Autumn, Dutch Dairy Board/ZuivelNL butter prices have remained unchanged for the last 3 weeks at €4,300/tonne, which is higher than late 2017/early 2018.  Powders continue to show positive results.  Over the last 2 weeks, Dutch WMP has risen €70/tonne and SMP is up €50/tonne. Meanwhile, UK mild cheddar prices are stable at £3,000/tonne.

UFU MPI Graph Download

UFU MPI

Friday, 26 October, 2018

UFU MPI Latest

UFU MPI: 27.30ppl (down from 27.99ppl) – Dutch Dairy Board/ZuivelNL saw butter commodity prices fall once again, this time falling by €250/tonne to €4450/tonne.  Meanwhile, Fonterra/GDT saw the average price index was down 0.3% to $2,885 at the latest auction.  Interestingly, bucking recent trends globally, New Zealand saw the butter index increase by 2.4% to an average price of $4,114 per tonne.

UFU MPI (Graph Download) 

UFU MPI

Friday, 28 September, 2018

UFU MPI Latest:

UFU MPI - 28.57ppl (down from 29.29ppl) European commodity butter prices have reduced in recent weeks (down €270/tonne in 2 weeks).  Also ZuivelNL, the last event saw Whole Milk Powder (WMP) cut by €50 to €2,850/tonne, Skimmed Milk Powder (SMP food grade), down €80 to €1,570/tonne and whey powder slipping €20 to €760/tonne.  Furthermore, indications are that dairy futures prices are looking weaker later in the year. 

UFU MPI

Friday, 7 September, 2018

UFU MPI Latest:

UFU MPI – 29.29 (up from 28.90ppl) This week saw DDB/ZuivelNL SMP (Food grade) up €20 to €1,650/tonne, up 14% in the past month and now just 3% under the official EU Intervention Price and WMP rose by €30/tonne.  In New Zealand, GDT saw the overall index slip by 0.7%. WMP was down 2.2%to $2,821/tonne.  Volume traded was up by 7,000 tonnes to 38,000 tonnes and New Zealand has also seen an increase in milk production in recent weeks.

UFU MPI

Friday, 24 August, 2018

UFU MPI Latest:

UFU MPI 28.90ppl (up from 28.69ppl) – Despite a 3.6% slip in the GDT Index in New Zealand, markets closer to home (possibly spurred by the weather) have seen notable increases. Dutch Dairy Board (ZuivelNL) this week saw WMP up €50/tonne (the largest increase since early June 2018), SMP (food grade) was up €60/tonne (up €120/tonne in the last two weeks) and whey powder up €30/tonne.

UFU MPI

Saturday, 9 June, 2018

UFU MPI – 29.00ppl (up from 26.63ppl) – Positive results from Dutch Dairy Commodity Markets continued in the last two weeks.  This week Skimmed Milk Powder continued its rise with food grade up €40/tonne to €1,590 and feed grade up €50 to €1,420/tonne, although butter did remain at €6,120/tonne. Meanwhile in New Zealand the all product GDT index slipped by 1.3%, with cheddar down 3.6%.

UFU MPI

Friday, 24 February, 2017

Commodity Watch Article 

The Ulster Farmers’ Union's Dairy committee has decided to reinstate its Milk Price Indicator (MPI). 

This was originally launched in 2013, in light of an absence of milk pricing data specific to Northern Ireland, published fortnightly, with supporting market analysis, it gave dairy farmers an indication of returns from key commodity markets.  Publication was suspended in late 2014 after claims it was talking down milk prices, claims which were subsequently proved wrong with the continued calculation of the MPI accurately reflecting market returns and the milk price in Northern Ireland.

Background to the MPI

The UFU MPI was originally launched in May 2013.  At the time, the UFU stressed it should be viewed as an indicative pence per litre figure of what we believed that dairy markets could return.  Exposure to dairy commodity prices meant that figures were quoted in tonnes and kilogrammes and the MPI was a first in Northern Ireland as it provided a pence per litre indicator of what markets could return.  It should be stressed that the MPI is not necessarily what the farm-gate milk price should be nor the price that a farmer should receive, rather it is an indication as to market movements and what the market is returning.

MPI Structure

The reinstated MPI will remain unchanged in how it is calculated.  The UFU MPI is based upon a basket of commodities relevant to Northern Ireland; Cheese; Whey Powder; Butter, Skimmed Milk Powder and Whole Milk Powder.  The indicator itself is a hybrid of the industry recognised AMPE (Actual Milk Price Equivalent) and the MCVE (Milk for Cheese Value Equivalent) calculations.  There is a time lag associated with the MPI since it I composed of an element of spot prices and this should be considered. 

The MPI not include transport charges and does not factor in processor margin.  The impact upon the MPI of these added costs is debatable especially when you consider that in late 2013, Dairy Co/AHDB commissioned a review of the long standing milk price indicators, AMPE and MCVE.  The recommendations questioned the inclusion of profit margin and transport costs within AMPE and MCVE. 

MPI Publication Suspended

The decision was made reluctantly to suspend the publication of the MPI in September 2014, due to unfounded fears raised by some in the industry that the MPI was talking down the price of milk in Northern Ireland, when in fact we were in the middle of toxic combination of factors which created major downward pressure on milk prices. 

Comparison

Graph One illustrates how the MPI has performed in the 12 months after its suspension.  During this time, the MPI fell by 33%.  The Northern Ireland base milk price fell from 25p per litre to 17.74ppl, which was a fall of 29%.

 

Graph One – MPI and NI Base Price September 2014 – August 2015

 

It is important to note that the period shown within Graph Two below, for September 2015 to August 2016, base price average was 16.04ppl and for this 12 month period, an indication of the severe pressure our sector was under.  Meanwhile the average MPI for this period was 16.59ppl.

Graph Two - MPI and NI Base Price September 2015 – December 2016

Why are the UFU reinstating the MPI?

The MPI has been running ever since its publication was suspended.  During this time, the local dairy market has grown ever more volatile in the last 12 months, take Brexit for example.  The correction in Sterling exchange rates has added 3ppl to the price of milk, and never more so than now do local farmers need an indictator as to what milk commodity markets are returning and the direction of prices.

Commitment to the long term

The UFU Dairy Committee are committed to the continued publication of the MPI.  Such is the volatile nature of dairy markets, prices will inevitably weaken, but we would like to stress and reassure our members that the MPI is here to stay and will be of benefit to the dairy sector in Northern Ireland.

Where will the MPI be published?

The MPI will be published in graphical form on a fortnightly basis, accompanied by analytical commentary in UFU Watch (Farming Life), UFU member bulletin and via UFU outlets on social media; Facebook etc.

The reinstated MPI at the 25th February 2017 is:

Analysis

Latest MPI is 29.12ppl.  In the last 3 months, the UFU MPI has been over 30ppl.  Higher price was buoyed by reducing milk volumes but also demand was higher as a result of increased orders for butter and cream.  Since the New Year milk production has risen (in line with seasonal increases) and butter prices have fallen back, but Dutch Dairy Board (ZuivelNL) still trading c.€4,000/tonne.

The latest GDT auction in New Zealand saw Price Index down 3.2%, with WMP down 3.7% to $3,189/tonne.  This was expected with increased volume available. Meanwhile, on Wednesday, the Dutch Dairy Board/Zuivel saw mixed results, butter was up for the second consecutive week, up €50 to €4,050/tonne but powders all fell.  Industry keeping a close eye on SMP in EU Intervention stores. 

UFU MPI

UFU MPI Latest

UFU MPI: 27.99ppl (down from 28.57ppl) Commodity Markets have continued to weaken with falls in Oceania and Europe.  The latest Global Dairy Trade (GDT) auction concluding with the GDT Price Index down 1.9%.  Dutch Dairy Board/ZuivelNL cut all their official dairy commodity prices last week, butter was cut by €100 to €5,000/tonne; WMP was cut by €50 to €2,700/tonne; SMP (food) was cut by €20 to €1,530/tonne; SMP (feed) and whey powder was cut by €20 to €730/tonne.

UFU MPI (Graph Download)

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