More co-ops hold September milk price
Two more milk processors have announced that they will be holding their milk price for September supplies.
Carbery has held its milk price September at 28.9c/L while Dairygold has also held its September milk price, at 25.50c/L.
They follow Lakeland Dairies, Kerry Group and Aurivo in holding the price for September milk.
Lakeland Dairies was the first to set its September price, which held at 26.25c/L. Kerry Group became the second processor to hold its milk price at 26c/L.
Aurivo also announced that it would be holding its milk price for September milk at 25.00c/L.
Meanwhile, Glanbia cut its price for September milk by 1c/L; its member suppliers will receive 25c/L including VAT for September milk – farmers with no shares will receive 24c/L.
Arrabawn and Lacpatrick are yet to set prices for September milk.
The Ornua Purchase Price Index (PPI), a monthly indicator of market returns on dairy products, fell marginally by 0.6 of a point in September.
This is down from 91.2 points in August, which was also down marginally from July (91.8 points).
Earlier this year Ornua saw its PPI for March hit 100 points up 2.5 points from February levels.
Compared to September 2014, the PPI index is down from 111.6 points, the latest fall represents the sixth consecutive fall in 2015.
Prices fall at latest Global Dairy Trade auction
After four bumper auctions in a row, prices fell at the latest Global Dairy Trade auction.
Average prices paid at the auction fell 3.1% on the last event held three weeks previously which itself was up 9.9%.
The previous three auctions had seen double-digit increases for dairy prices. This week, key products Whole Milk Powder and Skimmed Milk Powder both fell at today’s auction down 4.6% and 4.5% respectively.