Ornua PPI sees marginal increase for February
Ornua’s Purchase Price Index (PPI) has increased marginally for the month of February, up slightly on last month’s figure.
The index for the month is 111.6, which converts to 33.7c/L including VAT, based on Ornua’s product purchase mix and assumed costs of 6.5c/L.
This stability is a function of lower powder prices offset by higher cheese prices and flat returns for butter, the representative added.
GDT drops for third time on the trot
On an international level, the Global Dairy Trade (GDT) has decreased for the third consecutive auction following its latest tender this week, on Tuesday, March 3.
Tuesday’s auction – Event 255 – concluded with the GDT Price Index down 1.2%, according to the trading platform.
Lasting two hours and 15 minutes, the event saw 184 bidders participate across 17 rounds with 136 winning bidders emerging.
Both butter milk powder (BMP) and cheddar saw sizeable reductions in index today, falling by 4.8% and 4.7% respectively.
Skim milk powder (SMP) also saw a 3.2% slide in index today. Meanwhile, anhydrous milk fat (AMF) dropped by 1.7%, with whole milk powder (WMP) back marginally by 0.5%.
However, on the flip-side, the most dramatic move in index on the day was for lactose – which increased by 5.7%.