The Ornua Purchase Price Index (PPI) for the month of November has been revealed, showing an increase on last month’s figure.

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 markets news, the latest Global Dairy Trade (GDT) auction event took place this 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.

Only two product categories saw decreases at the auction, though they were enough to drag back the overall index compared to the more marginal gains for the other products.

The anhydrous milk fat (AMF) sub-index fell by 5.1%, while the butter sub-index fell by 4.9%.

In terms of the products that moved up, rennet casein (RenCas) continued its strong performance from the last GDT event – held on November 19 – with its index increasing by 4.9%.

Butter milk powder (BMP); cheddar (ched); skim milk powder (SMP); and whole milk powder (WMP) all saw increases – by 1.6%; 2.7%; 1.9%; and 0.1% respectively.

The percentage increase for lactose (lac) was not provided, but in terms of monetary value, it increased by $4/MT.

As is generally the case, figures were not available for sweet whey powder.