Ornua PPI falls for the sixth consecutive month
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 it’s 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.
Global Dairy Trade
Dairy product prices rose 9.9% at the latest Fonterra Global Dairy Trade auction.
The event represents the fourth positive auction for prices in a row after prices rose last month for the first time since March 2015 after 10 negative auctions.
Average prices paid at the auction rose 9.9% on the last event held three weeks previously which itself was up 16.5%.
The only casualty in the latest auction was butter, which was down 2.3%. Butter milk powder (BMP) saw a rise of 13.8% while skimmed milk powder recorded a 13.4% rise.