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UFU MPI

Friday, 4 June, 2021

Friday 4 June 2021

UFU MPI: 32.37ppl (up from 32.25ppl) - Dairy commodity markets stable. Latest auction in New Zealand had whole milk powder prices down nought-point-five percent at $4,062/tonne and this was balanced by cheddar cheese rising nought-point-five percent to $4,324/tonne. Meanwhile, Dutch Dairy Board/ZuivelNL saw butter up €30 to €4,150/tonne and whey powder up €10 to €1,040/tonne. Whole milk powder unchanged at €3,210/tonne and semi milk powder (food) steady at €2,630/tonne. MPI now above 30ppl for the last nine consecutive calculations, since early February 2021.

UFU MPI graph download 

 

Friday 21 May 2021

UFU MPI: 32.25ppl (was 32.30ppl): Positive returns in Dutch dairy commodity prices continued this week with increases across all key products. Gains in commodity prices tempered by the strength of sterling, but MPI has been consecutively greater than 30ppl since 5 February 2021 - a trend we have not seen since 2017 and reflective of the strength in dairy commodity markets which is significant during this point in the year in terms of milk production.

UFU MPI graph download 

 

Friday 7 May 2021

UFU MPI: 32.30ppl (was 32.19ppl) – Notably the last seven calculations of the MPI have been above 30ppl. GDT all-product index in New Zealand slipped nought-point-seven percent this week, yet Whole Milk Powder rose nought-point-seven percent to US$4,115/tonne. ZuivelNL in Netherland increased three of their official dairy commodity prices, both food and feed Skimmed Milk Powder are up €30 to €2,540/t (second consecutive week of parity for the two grades) and whey powder is up €10 to €1,020/t. UK butter price currently £3,400/tonne.

UFU MPI graph download 

 

Friday 23 April 2021

UFU MPI: 32.19ppl (down from 32.44ppl) - GDT auction this week in New Zealand was down nought-point-one percent, only the second fall of the year, leaving the index up 21.9 percent in 2021. Whole milk powder index was up nought-point-four percent, an average price of US$4,097/tonne, up 24 percent this year. Meanwhile Dutch dairy commodity prices saw butter slip €50/tonne to €3990 (up 23 percent since January) and whole milk powder back €40/tonne to €3130 (up 13 percent since start of year).

UFU MPI graph download 

UFU MPI

Friday, 21 May, 2021

Friday 21 May 2021

UFU MPI: 32.25ppl (was 32.30ppl): Positive returns in Dutch dairy commodity prices continued this week with increases across all key products. Gains in commodity prices tempered by the strength of sterling, but MPI has been consecutively greater than 30ppl since 5 February 2021 - a trend we have not seen since 2017 and reflective of the strength in dairy commodity markets which is significant during this point in the year in terms of milk production.

UFU MPI graph download 

 

Friday 7 May 2021

UFU MPI: 32.30ppl (was 32.19ppl) – Notably the last seven calculations of the MPI have been above 30ppl. GDT all-product index in New Zealand slipped nought-point-seven percent this week, yet Whole Milk Powder rose nought-point-seven percent to US$4,115/tonne. ZuivelNL in Netherland increased three of their official dairy commodity prices, both food and feed Skimmed Milk Powder are up €30 to €2,540/t (second consecutive week of parity for the two grades) and whey powder is up €10 to €1,020/t. UK butter price currently £3,400/tonne.

UFU MPI graph download 

 

Friday 23 April 2021

UFU MPI: 32.19ppl (down from 32.44ppl) - GDT auction this week in New Zealand was down nought-point-one percent, only the second fall of the year, leaving the index up 21.9 percent in 2021. Whole milk powder index was up nought-point-four percent, an average price of US$4,097/tonne, up 24 percent this year. Meanwhile Dutch dairy commodity prices saw butter slip €50/tonne to €3990 (up 23 percent since January) and whole milk powder back €40/tonne to €3130 (up 13 percent since start of year).

UFU MPI graph download 

 

Friday 9 April 2021

UFU MPI: 32.44ppl (was 32.56ppl) – Dairy trade is currently quiet, with GDT auction in New Zealand seeing the all product up nought-point-three percent with cheddar up two-point-two percent and whole milk powder unchanged. Dutch dairy commodity prices reflecting these low levels of trade, although WMP slipped slightly by €40/tonne to €3260. Yet there is positivity (after notable gains since the New Year), with the likely easing of lockdown and the return of food service to the market.

UFU MPI graph download 

UFU MPI

Friday, 7 May, 2021

Friday 7 May 2021

UFU MPI: 32.30ppl (was 32.19ppl) – Notably the last seven calculations of the MPI have been above 30ppl. GDT all-product index in New Zealand slipped nought-point-seven percent this week, yet Whole Milk Powder rose nought-point-seven percent to US$4,115/tonne. ZuivelNL in Netherland increased three of their official dairy commodity prices, both food and feed Skimmed Milk Powder are up €30 to €2,540/t (second consecutive week of parity for the two grades) and whey powder is up €10 to €1,020/t. UK butter price currently £3,400/tonne.

UFU MPI graph download 

 

Friday 23 April 2021

UFU MPI: 32.19ppl (down from 32.44ppl) - GDT auction this week in New Zealand was down nought-point-one percent, only the second fall of the year, leaving the index up 21.9 percent in 2021. Whole milk powder index was up nought-point-four percent, an average price of US$4,097/tonne, up 24 percent this year. Meanwhile Dutch dairy commodity prices saw butter slip €50/tonne to €3990 (up 23 percent since January) and whole milk powder back €40/tonne to €3130 (up 13 percent since start of year).

UFU MPI graph download 

 

Friday 9 April 2021

UFU MPI: 32.44ppl (was 32.56ppl) – Dairy trade is currently quiet, with GDT auction in New Zealand seeing the all product up nought-point-three percent with cheddar up two-point-two percent and whole milk powder unchanged. Dutch dairy commodity prices reflecting these low levels of trade, although WMP slipped slightly by €40/tonne to €3260. Yet there is positivity (after notable gains since the New Year), with the likely easing of lockdown and the return of food service to the market.

UFU MPI graph download 

 

Friday 19 March 2021

UFU MPI: 32.56ppl (up from 32.05ppl) – New Zealand saw their GDT All Product slip back 3.8% after the large rises from the last trading event. However, Dutch markets saw butter up €380/tonne and WMP up €300/tonne in the last two weeks.  Notably, whey powder breached the €1000, now quoted at €1,020/tonne, up €100 in the last fortnight. This continued positivity is being reflected in UK wholesale prices, with butter trading at £3600/tonne and demand is good despite the hospitality sector still in lockdown.

UFU MPI graph download 

UFU MPI

Friday, 23 April, 2021

Friday 23 April 2021

UFU MPI: 32.19ppl (down from 32.44ppl) - GDT auction this week in New Zealand was down nought-point-one percent, only the second fall of the year, leaving the index up 21.9 percent in 2021. Whole milk powder index was up nought-point-four percent, an average price of US$4,097/tonne, up 24 percent this year. Meanwhile Dutch dairy commodity prices saw butter slip €50/tonne to €3990 (up 23 percent since January) and whole milk powder back €40/tonne to €3130 (up 13 percent since start of year).

UFU MPI graph download 

 

Friday 9 April 2021

UFU MPI: 32.44ppl (was 32.56ppl) – Dairy trade is currently quiet, with GDT auction in New Zealand seeing the all product up nought-point-three percent with cheddar up two-point-two percent and whole milk powder unchanged. Dutch dairy commodity prices reflecting these low levels of trade, although WMP slipped slightly by €40/tonne to €3260. Yet there is positivity (after notable gains since the New Year), with the likely easing of lockdown and the return of food service to the market.

UFU MPI graph download 

 

Friday 19 March 2021

UFU MPI: 32.56ppl (up from 32.05ppl) – New Zealand saw their GDT All Product slip back 3.8% after the large rises from the last trading event. However, Dutch markets saw butter up €380/tonne and WMP up €300/tonne in the last two weeks.  Notably, whey powder breached the €1000, now quoted at €1,020/tonne, up €100 in the last fortnight. This continued positivity is being reflected in UK wholesale prices, with butter trading at £3600/tonne and demand is good despite the hospitality sector still in lockdown.

UFU MPI graph download 

 

Friday 5 March 2021

UFU MPI: 32.05ppl (up from 30.20ppl) – New Zealand this week saw the GDT auction price index up 15.0%, up over 39% year-on-year, the highest since March 2014 and the third biggest increase in its history. This was driven by a massive 21% rise in WMP (Whole Milk Powder) to $4364/tonne, its highest level in seven years. This comes on the back of the continued bull run on global commodities, yet the level of increase was unexpected.  In terms of trend, significant since it was the eighth increase for the index in a row, and the eleventh out the last twelve auctions. Elsewhere, Dutch butter rose by €120/tonne to €3,770/tonne.

UFU MPI graph download 

UFU MPI

Friday, 19 March, 2021

Friday 19 March 2021

UFU MPI: 32.56ppl (up from 32.05ppl) – New Zealand saw their GDT All Product slip back 3.8% after the large rises from the last trading event. However, Dutch markets saw butter up €380/tonne and WMP up €300/tonne in the last 2 weeks.  Notably, whey powder breached the €1000, now quoted at €1,020/tonne, up €100 in the last fortnight. This continued positivity is being reflected in UK wholesale prices, with butter trading at £3600/tonne and demand is good despite the hospitality sector still in lockdown.

UFU MPI graph download 

 

Friday 5 March 2021

UFU MPI: 32.05ppl (up from 30.20ppl) – New Zealand this week saw the GDT auction price index up 15.0%, up over 39% year-on-year, the highest since March 2014 and the 3rd biggest increase in its history. This was driven by a massive 21% rise in WMP (Whole Milk Powder) to $4364/tonne, its highest level in seven years. This comes on the back of the continued bull run on global commodities, yet the level of increase was unexpected.  In terms of trend, significant since it was the eighth increase for the index in a row, and the eleventh out the last twelve auctions. Elsewhere, Dutch butter rose by €120/tonne to €3,770/tonne.

UFU MPI graph download 

 

Friday 19 February 2021

UFU MPI: 30.20ppl (up from 30.08ppl) – Dairy commodity prices have again strengthened over the last two weeks. New Zealand saw the average GDT index up by three percent. Notably the GDT Index has averaged a sever year high and its tenth rise in the last 11 trading events. Every dairy product rose in the Netherlands this week at DDB/ZuiveNL, with butter up by €100 in the last fortnight and WMP up by €40/tonne in the same period. This has been reflected in UK prices, with butter now between £3,100 and £3,200/tonne and cheese prices remain firm at decent prices, buoyed by high retail demand.

UFU MPI graph download 

 

Friday 5 February 2021

UFU MPI: 30.08ppl (up from 29.57ppl): The fourth successive rise in the UFU MPI reflects the continued rise in dairy commodity prices. Positive returns seen in UK dairy commodities with butter up by £100 to £3100/tonne this week. Elsewhere, European butter up by €150/tonne in the last two weeks and whey powder reaching the highest level since June 2017. Strength in whey demand reflective of drive for protein in the Chinese pig industry. 

UFU MPI graph download 

UFU MPI

Friday, 9 April, 2021

Friday 9 April 2021

UFU MPI: 32.44ppl (was 32.56ppl) – Dairy trade is currently quiet, with GDT auction in New Zealand seeing the all product up nought-point-three percent with cheddar up two-point-two percent and whole milk powder unchanged. Dutch dairy commodity prices reflecting these low levels of trade, although WMP slipped slightly by €40/tonne to €3260. Yet there is positivity (after notable gains since the New Year), with the likely easing of lockdown and the return of food service to the market.

UFU MPI graph download 

 

Friday 19 March 2021

UFU MPI: 32.56ppl (up from 32.05ppl) – New Zealand saw their GDT All Product slip back 3.8% after the large rises from the last trading event. However, Dutch markets saw butter up €380/tonne and WMP up €300/tonne in the last two weeks.  Notably, whey powder breached the €1000, now quoted at €1,020/tonne, up €100 in the last fortnight. This continued positivity is being reflected in UK wholesale prices, with butter trading at £3600/tonne and demand is good despite the hospitality sector still in lockdown.

UFU MPI graph download 

 

Friday 5 March 2021

UFU MPI: 32.05ppl (up from 30.20ppl) – New Zealand this week saw the GDT auction price index up 15.0%, up over 39% year-on-year, the highest since March 2014 and the third biggest increase in its history. This was driven by a massive 21% rise in WMP (Whole Milk Powder) to $4364/tonne, its highest level in seven years. This comes on the back of the continued bull run on global commodities, yet the level of increase was unexpected.  In terms of trend, significant since it was the eighth increase for the index in a row, and the eleventh out the last twelve auctions. Elsewhere, Dutch butter rose by €120/tonne to €3,770/tonne.

UFU MPI graph download 

 

Friday 19 February 2021

UFU MPI: 30.20ppl (up from 30.08ppl) – Dairy commodity prices have again strengthened over the last two weeks. New Zealand saw the average GDT index up by three percent. Notably the GDT Index has averaged a sever year high and its tenth rise in the last 11 trading events. Every dairy product rose in the Netherlands this week at DDB/ZuiveNL, with butter up by €100 in the last fortnight and WMP up by €40/tonne in the same period. This has been reflected in UK prices, with butter now between £3,100 and £3,200/tonne and cheese prices remain firm at decent prices, buoyed by high retail demand.

UFU MPI graph download 

UFU MPI

Friday, 5 March, 2021

Friday 5 March 2021

UFU MPI: 32.05ppl (up from 30.20ppl) – New Zealand this week saw the GDT auction price index up 15.0%, up over 39% year-on-year, the highest since March 2014 and the 3rd biggest increase in its history.  This was driven by a massive 21% rise in WMP (Whole Milk Powder) to $4364/tonne, its highest level in seven years.  This comes on the back of the continued bull run on global commodities, yet the level of increase was unexpected.  In terms of trend, significant since it was the eighth increase for the index in a row, and the eleventh out the last twelve auctions.  Elsewhere, Dutch butter rose by €120/tonne to €3,770/tonne.

UFU MPI graph download 

 

Friday 19 February 2021

UFU MPI: 30.20ppl (up from 30.08ppl) – Dairy commodity prices have again strengthened over the last two weeks. New Zealand saw the average GDT index up by three percent. Notably the GDT Index has averaged a sever year high and its tenth rise in the last 11 trading events.  Every dairy product rose in the Netherlands this week at DDB/ZuiveNL, with butter up by €100 in the last fortnight and WMP up by €40/tonne in the same period. This has been reflected in UK prices, with butter now between £3,100 and £3,200/tonne and cheese prices remain firm at decent prices, buoyed by high retail demand.

UFU MPI graph download 

 

Friday 5 February 2021

UFU MPI: 30.08ppl (up from 29.57ppl): The fourth successive rise in the UFU MPI reflects the continued rise in dairy commodity prices. Positive returns seen in UK dairy commodities with butter up by £100 to £3100/tonne this week.  Elsewhere, European butter up by €150/tonne in the last two weeks and whey powder reaching the highest level since June 2017. Strength in whey demand reflective of drive for protein in the Chinese pig industry. 

UFU MPI graph download 

 

Friday 22 January 2021

UFU MPI: 29.57ppl (up from 29.03ppl) – Dairy commodity prices have strengthened again in the last two weeks, with butter markets coming back to life.  DDB/ZuivelNL seeing a rise of €100/tonne in the last fortnight.  Whey powder has increased €80/tonne, spurred by the Chinese demand for protein in their pig sector as well as increases for skimmed milk powder. This is also reflected in New Zealand which saw the GDT index for all products increasing by four-point-three percent to €3,593.

UFU MPI graph download 

UFU MPI

Friday, 19 February, 2021

Friday 19 February 2021

UFU MPI: 30.20ppl (up from 30.08ppl) – Dairy commodity prices have again strengthened over the last two weeks. New Zealand saw the average GDT index up by three percent. Notably the GDT Index has averaged a sever year high and its tenth rise in the last 11 trading events.  Every dairy product rose in the Netherlands this week at DDB/ZuiveNL, with butter up by €100 in the last fortnight and WMP up by €40/tonne in the same period. This has been reflected in UK prices, with butter now between £3,100 and £3,200/tonne and cheese prices remain firm at decent prices, buoyed by high retail demand.

UFU MPI graph download 

 

Friday 5 February 2021

UFU MPI: 30.08ppl (up from 29.57ppl): The fourth successive rise in the UFU MPI reflects the continued rise in dairy commodity prices. Positive returns seen in UK dairy commodities with butter up by £100 to £3100/tonne this week.  Elsewhere, European butter up by €150/tonne in the last two weeks and whey powder reaching the highest level since June 2017. Strength in whey demand reflective of drive for protein in the Chinese pig industry. 

UFU MPI graph download 

 

Friday 22 January 2021

UFU MPI: 29.57ppl (up from 29.03ppl) – Dairy commodity prices have strengthened again in the last two weeks, with butter markets coming back to life.  DDB/ZuivelNL seeing a rise of €100/tonne in the last fortnight.  Whey powder has increased €80/tonne, spurred by the Chinese demand for protein in their pig sector as well as increases for skimmed milk powder. This is also reflected in New Zealand which saw the GDT index for all products increasing by four-point-three percent to €3,593.

UFU MPI graph download 

 

Friday 8 January 2021

UFU MPI: 29.03ppl (up from 28.99ppl on 18 December 2020) – The New Year has seen a raft of positive returns for global dairy commodity prices. The New Zealand GDT auction saw the overall index up 3.9%. The WMP index was up 3.1%, with Cheddar cheese was up 5.0% at $4,078/tonne. The Dutch Dairy Board/ZuivelNL increased three of five of their official dairy commodity prices, with SMP (food grade) up €10 to €2,220/tonne and whey powder is up €20 to €810/tonne (the highest for 11 months). Official butter price unchanged at €3,250/tonne and WMP price remained at €2,760/tonne.

UFU MPI graph download 

UFU MPI

Friday, 5 February, 2021

Friday 5 February 2021

UFU MPI: 30.08ppl (up from 29.57ppl): The fourth successive rise in the UFU MPI reflects the continued rise in dairy commodity prices. Positive returns seen in UK dairy commodities with butter up by £100 to £3100/tonne this week.  Elsewhere, European butter up by €150/tonne in the last two weeks and whey powder reaching the highest level since June 2017. Strength in whey demand reflective of drive for protein in the Chinese pig industry. 

UFU MPI graph download 

 

Friday 22 January 2021

UFU MPI: 29.57ppl (up from 29.03ppl) – Dairy commodity prices have strengthened again in the last two weeks, with butter markets coming back to life.  DDB/ZuivelNL seeing a rise of €100/tonne in the last fortnight.  Whey powder has increased €80/tonne, spurred by the Chinese demand for protein in their pig sector as well as increases for skimmed milk powder. This is also reflected in New Zealand which saw the GDT index for all products increasing by four-point-three percent to €3,593.

UFU MPI graph download 

 

Friday 8 January 2021

UFU MPI: 29.03ppl (up from 28.99ppl on 18 December 2020) – The New Year has seen a raft of positive returns for global dairy commodity prices. The New Zealand GDT auction saw the overall index up 3.9%. The WMP index was up 3.1%, with Cheddar cheese was up 5.0% at $4,078/tonne. The Dutch Dairy Board/ZuivelNL increased three of five of their official dairy commodity prices, with SMP (food grade) up €10 to €2,220/tonne and whey powder is up €20 to €810/tonne (the highest for 11 months). Official butter price unchanged at €3,250/tonne and WMP price remained at €2,760/tonne.

UFU MPI graph download 

 

Friday 4 December 2020

UFU MPI: 28.55ppl (up from 28.08ppl) - All prices were significantly higher at the latest GDT auction in New Zealand with the overall index up 4.3%. WMP was up 5.0% at US$3,182/tonne and Cheddar was up 2.4% at $3,734/tonne. In the Netherlands, ZuivelNL this week increased three of their five official dairy commodity prices this week. The WMP price is up €10 to €2,750/tonne, the SMP (food) price is up €10 to €2,150/tonne and whey powder is also up €10 to €750/tonne. The butter price has been left unchanged at €3,300/tonne and the SMP (feed) price is also unchanged at €2,070/tonne.

UFU MPI graph download 

UFU MPI

Friday, 22 January, 2021

Friday 22 January 2021

UFU MPI: 29.57ppl (up from 29.03ppl) – Dairy commodity prices have strengthened again in the last two weeks, with butter markets coming back to life.  DDB/ZuivelNL seeing a rise of €100/tonne in the last fortnight.  Whey powder has increased €80/tonne, spurred by the Chinese demand for protein in their pig sector as well as increases for skimmed milk powder. This is also reflected in New Zealand which saw the GDT index for all products increasing by four-point-three percent to €3,593.

UFU MPI graph download 

 

Friday 8 January 2021

UFU MPI: 29.03ppl (up from 28.99ppl on 18 December 2020) – The New Year has seen a raft of positive returns for global dairy commodity prices. The New Zealand GDT auction saw the overall index up 3.9%. The WMP index was up 3.1%, with Cheddar cheese was up 5.0% at $4,078/tonne. The Dutch Dairy Board/ZuivelNL increased three of five of their official dairy commodity prices, with SMP (food grade) up €10 to €2,220/tonne and whey powder is up €20 to €810/tonne (the highest for 11 months). Official butter price unchanged at €3,250/tonne and WMP price remained at €2,760/tonne.

UFU MPI graph download 

 

Friday 4 December 2020

UFU MPI: 28.55ppl (up from 28.08ppl) - All prices were significantly higher at the latest GDT auction in New Zealand with the overall index up 4.3%. WMP was up 5.0% at US$3,182/tonne and Cheddar was up 2.4% at $3,734/tonne. In the Netherlands, ZuivelNL this week increased three of their five official dairy commodity prices this week. The WMP price is up €10 to €2,750/tonne, the SMP (food) price is up €10 to €2,150/tonne and whey powder is also up €10 to €750/tonne. The butter price has been left unchanged at €3,300/tonne and the SMP (feed) price is also unchanged at €2,070/tonne.

UFU MPI graph download 

 

Friday 20 November 2020

UFU MPI: Aside from a slight slip last week for Dutch skimmed milk power, dairy markets remain quiet and stable. Latest New Zealand trading event saw the all product index increase by one-point-eight percent with similar gains for whole milk powder. UK butter currently in or around £3,000/tonne, almost at parity with cream in terms of fat value basis. Meanwhile positivity remains for cheddar prices.

UFU MPI graph download 

UFU MPI

Friday, 8 January, 2021

Friday 8 January 2021

UFU MPI: 29.03ppl (up from 28.99ppl on 18 December 2020) – The New Year has seen a raft of positive returns for global dairy commodity prices. The New Zealand GDT auction saw the overall index up 3.9%. The WMP index was up 3.1%, with Cheddar cheese was up 5.0% at $4,078/tonne. The Dutch Dairy Board/ZuivelNL increased three of five of their official dairy commodity prices, with SMP (food grade) up €10 to €2,220/tonne and whey powder is up €20 to €810/tonne (the highest for 11 months). Official butter price unchanged at €3,250/tonne and WMP price remained at €2,760/tonne.

UFU MPI graph download 

 

Friday 4 December 2020

UFU MPI: 28.55ppl (up from 28.08ppl) - All prices were significantly higher at the latest GDT auction in New Zealand with the overall index up 4.3%. WMP was up 5.0% at US$3,182/tonne and Cheddar was up 2.4% at $3,734/tonne. In the Netherlands, ZuivelNL this week increased three of their five official dairy commodity prices this week. The WMP price is up €10 to €2,750/tonne, the SMP (food) price is up €10 to €2,150/tonne and whey powder is also up €10 to €750/tonne. The butter price has been left unchanged at €3,300/tonne and the SMP (feed) price is also unchanged at €2,070/tonne.

UFU MPI graph download 

 

Friday 20 November 2020

UFU MPI: Aside from a slight slip last week for Dutch skimmed milk power, dairy markets remain quiet and stable. Latest New Zealand trading event saw the all product index increase by one-point-eight percent with similar gains for whole milk powder. UK butter currently in or around £3,000/tonne, almost at parity with cream in terms of fat value basis. Meanwhile positivity remains for cheddar prices.

UFU MPI graph download 

 

Friday 6 November 2020

UFU MPI: 28.19ppl (was 28.31ppl) – There was a slip in European butter prices, reflecting sentiments that orders have been made for the end of quarter four. This downward movement has impacted upon skimmed milk powder prices which remain about £2,000/tonne. Elsewhere cheese remains the positive with UK mozzarella and cheddar/curd showing positive movement.

UFU MPI graph download

UFU MPI

Friday, 20 November, 2020

Ulster Farmers’ Union milk price indicator: Aside from a slight slip last week for Dutch skimmed milk power, dairy markets remain quiet and stable. Latest New Zealand trading event saw the all product index increase by one-point-eight percent with similar gains for whole milk powder. UK butter currently in or around £3,000/tonne, almost at parity with cream in terms of fat value basis. Meanwhile positivity remains for cheddar prices.

UFU MPI

Friday, 4 December, 2020

Friday 4 December 2020

UFU MPI: 28.55ppl (up from 28.08ppl) - All prices were significantly higher at the latest GDT auction in New Zealand with the overall index up 4.3%. WMP was up 5.0% at US$3,182/tonne and Cheddar was up 2.4% at $3,734/tonne. In the Netherlands, ZuivelNL this week increased three of their five official dairy commodity prices this week. The WMP price is up €10 to €2,750/tonne, the SMP (food) price is up €10 to €2,150/tonne and whey powder is also up €10 to €750/tonne. The butter price has been left unchanged at €3,300/tonne and the SMP (feed) price is also unchanged at €2,070/tonne.

UFU MPI graph download 

 

Friday 20 November 2020

UFU MPI: Aside from a slight slip last week for Dutch skimmed milk power, dairy markets remain quiet and stable. Latest New Zealand trading event saw the all product index increase by one-point-eight percent with similar gains for whole milk powder. UK butter currently in or around £3,000/tonne, almost at parity with cream in terms of fat value basis. Meanwhile positivity remains for cheddar prices.

UFU MPI graph download 

 

Friday 6 November 2020

UFU MPI: 28.19ppl (was 28.31ppl) – There was a slip in European butter prices, reflecting sentiments that orders have been made for the end of quarter four. This downward movement has impacted upon skimmed milk powder prices which remain about £2,000/tonne. Elsewhere cheese remains the positive with UK mozzarella and cheddar/curd showing positive movement.

UFU MPI graph download

 

Friday 23 October 2020

UFU MPI: 28.31ppl (was 28.42ppl) – Dairy markets remain very quiet yet stable and this was reflected in the latest results.  GDT auction in New Zealand on 20 October saw the overall price index up nought-point-four percent to $3,159. Whole milk powder (WMP) index was up nought-point-three percent at $3,037/tonne and cheddar cheese index up three percent at $3,803/tonne. Dutch markets saw gains for WMP up €40 to €2680/tonne (back to where it was two weeks ago) and skimmed milk powder (SMP) up €20/tonne to €2200 with other products staying unchanged.

UFU MPI graph download 

UFU MPI

Friday, 6 November, 2020

Friday 6 November 2020

UFU MPI: 28.19ppl (was 28.31ppl) – There was a slip in European butter prices, reflecting sentiments that orders have been made for the end of Q4. This downward movement has impacted upon Skimmed Milk Powder prices which remain about £2,000/tonne. Elsewhere cheese remains the positive with UK mozzarella and cheddar/curd showing positive movement. 

UFU MPI graph download

 

Friday 23 October 2020

UFU MPI: 28.31ppl (was 28.42ppl) – Dairy markets remain very quiet yet stable and this was reflected in the latest results.  GDT auction in New Zealand on 20 October saw the overall price index up nought-point-four percent to $3,159. Whole milk powder (WMP) index was up nought-point-three percent at $3,037/tonne and cheddar cheese index up three percent at $3,803/tonne. Dutch markets saw gains for WMP up €40 to €2680/tonne (back to where it was two weeks ago) and skimmed milk powder (SMP) up €20/tonne to €2200 with other products staying unchanged.

UFU MPI graph download

 

Friday 9 October 2020 

UFU MPI: 28.42 (was 28.02ppl) – Prices are relatively positive with only whole milk powder slipping €20/tonne in the Netherlands. Elsewhere, the GDT all product index in New Zealand rose by two-point-two percent with a nought-point-four percent increase for cheddar cheese and WMP up one-point-seven percent. Based upon this, demand would appear to be positive with a total of 35,090 tonne of product being sold, up three-point-eight percent from the last event three weeks ago.

UFU MPI graph download

 

Friday 18 September 2020

UFU MPI: 28.02ppl (was 27.32ppl) – The last fortnight saw a wrath of positive results for key dairy markets.  GDT in New Zealand saw a three-point-six percent all-index increase. Meanwhile, there were increases for all Dutch dairy commodity prices, with only butter remaining unchanged. Signs are that demand for dairy commodity products is coming back to life after the summer break.

UFU MPI graph download

UFU MPI

Friday, 23 October, 2020

Friday 23 October 2020

UFU MPI: 28.31ppl (was 28.42ppl) – Dairy markets remain very quiet yet stable and this was reflected in the latest results.  GDT auction in New Zealand on 20 October saw the overall price index up nought-point-four percent to $3,159. Whole milk powder (WMP) index was up nought-point-three percent at $3,037/tonne and cheddar cheese index up three percent at $3,803/tonne. Dutch markets saw gains for WMP up €40 to €2680/tonne (back to where it was two weeks ago) and skimmed milk powder (SMP) up €20/tonne to €2200 with other products staying unchanged.

UFU MPI graph download

 

Friday 9 October 2020 

UFU MPI: 28.42 (was 28.02ppl) – Prices are relatively positive with only whole milk powder slipping €20/tonne in the Netherlands. Elsewhere, the GDT all product index in New Zealand rose by two-point-two percent with a nought-point-four percent increase for cheddar cheese and WMP up one-point-seven percent. Based upon this, demand would appear to be positive with a total of 35,090 tonne of product being sold, up three-point-eight percent from the last event three weeks ago.

UFU MPI graph download

 

Friday 18 September 2020

UFU MPI: 28.02ppl (was 27.32ppl) – The last fortnight saw a wrath of positive results for key dairy markets.  GDT in New Zealand saw a three-point-six percent all-index increase. Meanwhile, there were increases for all Dutch dairy commodity prices, with only butter remaining unchanged. Signs are that demand for dairy commodity products is coming back to life after the summer break.

UFU MPI graph download

 

Friday 4 September 2020

UFU MPI: 27.32ppl (was 27.49ppl) – A tale of two auctions, with the New Zealand all product back one percent and countered by positive returns at ZuivelNL/Dutch Dairy Board, with all products up with the exception of WMP which remained unchanged. Notably Dutch butter up €50/tonne in two weeks after seven weeks remaining unchanged. Signs that markets coming back to life after summer lull. Also SMP (feed grade) up €90/tonne in the last 14 days.

UFU MPI graph download

UFU MPI

Friday, 18 September, 2020

Friday 18 September 2020

UFU MPI: 28.02ppl (was 27.32ppl) – The last fortnight saw a wrath of positive results for key dairy markets.  GDT in New Zealand saw a three-point-six percent all-index increase. Meanwhile, there were increases for all Dutch dairy commodity prices, with only butter remaining unchanged. Signs are that demand for dairy commodity products is coming back to life after the summer break.

UFU MPI graph download

 

Friday 4 September 2020

UFU MPI: 27.32ppl (was 27.49ppl) – A tale of two auctions, with the New Zealand all product back one percent and countered by positive returns at ZuivelNL/Dutch Dairy Board, with all products up with the exception of WMP which remained unchanged. Notably Dutch butter up €50/tonne in two weeks after seven weeks remaining unchanged. Signs that markets coming back to life after summer lull. Also SMP (feed grade) up €90/tonne in the last 14 days.

UFU MPI graph download

 

Friday 21 August 2020

UFU MPI: 27.49ppl (was 28.01ppl) – Dairy trade remains flat.  GDT auction in New Zealand saw the overall index down 1.7%. The WMP index was down 2.2% based on an average price of US$2,936/tonne and Cheddar was down 3.6% at $3,442/tonne. Dutch dairy commodity prices saw no movement for fats, butter prices have remained unchanged for 6 weeks on this platform.

UFU MPI graph download

 

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

UFU MPI

Friday, 4 September, 2020

UFU Latest MPI

Friday 4 September 2020

UFU MPI: 27.32ppl (was 27.49ppl) – A tale of two auctions, with the New Zealand all product back one percent and countered by positive returns at ZuivelNL/Dutch Dairy Board, with all products up with the exception of WMP which remained unchanged. Notably Dutch butter up €50/tonne in two weeks after seven weeks remaining unchanged. Signs that markets coming back to life after summer lull. Also SMP (feed grade) up €90/tonne in the last 14 days.

UFU MPI graph download

 

Friday 21 August 2020

UFU MPI: 27.49ppl (was 28.01ppl) – Dairy trade remains flat.  GDT auction in New Zealand saw the overall index down 1.7%. The WMP index was down 2.2% based on an average price of US$2,936/tonne and Cheddar was down 3.6% at $3,442/tonne. Dutch dairy commodity prices saw no movement for fats, butter prices have remained unchanged for 6 weeks on this platform.

UFU MPI graph download

 

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

UFU MPI

Friday, 21 August, 2020

UFU Latest MPI

Friday 21 August 2020

UFU MPI: 27.49ppl (was 28.01ppl) – Dairy trade remains flat.  GDT auction in New Zealand saw the overall index down 1.7%. The WMP index was down 2.2% based on an average price of US$2,936/tonne and Cheddar was down 3.6% at $3,442/tonne. Dutch dairy commodity prices saw no movement for fats, butter prices have remained unchanged for 6 weeks on this platform.

UFU MPI graph download

 

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

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, 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, 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

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. 

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