Ornua PPI stabilises for the first time in 15 months
The latest Ornua Purchase Price Index (PPI) remained unchanged at 81 points for June, not decreasing in value for the first time in 15 months.
The PPI, a monthly indicator of market returns on dairy products sold by Ornua, has fallen consecutively since March of 2015.
This latest PPI is the equivalent of 22.5c/L, VAT inclusive and also inclusive of 6.5c/L processing costs.
Meanwhile, the latest milk production figures for Ireland from the Central Statistics Office (CSO) show that Irish creameries and pasteurisers took in 918.0m litres.
This is a 4.9% increase in volumes above the corresponding figure for milk production for May 2015.
By comparing the May 2016 milk production figures with those for May 2015, total milk sold for human consumption increased by 4.0% to 45.6m litres.
Butter production was up 10.5% on May 2015 to 25,100t, the figures also show.
The latest figures from the CSO also show that from January to May this year, milk intake by the processors stood at 2,715.2 billion litres.
Compared to January to May last year, this is an increase of 11.1%.
Skimmed milk powder (SMP) production also increased on May 2015 levels, from 16,600t to 20,500t.
EU Milk Production Growth Starting To Slow Down
Figures released earlier this month show that milk production in the EU-28 for April stood at 437m litres of milk per day in the month.
Analysing the figures, the UK-based AHDB says this was 5m litres per day more than April last year, although that only equates to a year-on-year increase of 1.1%. Between October 2015 and March 2016, the EU-28 was running 5% up on the previous year.
Breaking the data down by country shows that milk production continued to increase in Germany and Netherlands, but fell in the UK, France and Ireland.
Also of note, is that April 2015 was the first-month post-quota removal and on many farms milk was held in bulk tanks in order to avoid superlevy bills this contributed to exceptionally strong April production 12 months ago.