Lakeland reveals milk price for November

Lakeland Dairies has become the first processor to announce its milk price for November supplies, revealing that it has held its price from October.

In the Republic of Ireland, the cooperative will pay a base price of 30.31c/L including VAT and lactose bonus, plus the usual out-of-season payment for qualifying milk.

This is the same price as what was paid by Lakeland last month for October supplies.

In Northern Ireland, a base price of 24.5p/L will be paid for October supplies, plus the usual out-of-season payment of 3p/L.

PPI and GDT

The Ornua Purchase Price Index (PPI) for the month of November recorded an increase on last month’s figure last week.

The index for the month is 106.6, converting to 31.9c/L, including VAT, based on Ornua’s product purchase mix and assumed costs of 6.5c/L.

The figure is adjusted from 105.6 for the month of October, which converted to 31.5c/L, itself an increase on the figure for September.

According to Ornua, the adjustment for November reflects higher powder prices and stable butter and cheddar returns.

In other dairy market news, the latest Global Dairy Trade (GDT) auction event took place last week on Tuesday, December 3.

After five consecutive increases, the auction saw a slight fall of 0.5%, and featured 179 participating bidders through 15 rounds of bidding, ending with 135 winning bids.

A total of 36,258MT of product was sold on the day, with the event lasting two hours and 14 minutes.