Milk prices across the EU increased in September for the fist time in 14 months according to latest figures from the Milk Market Observatory (MMO).
However, its initial estimate for October suggests prices will fall back again coinciding with general dairy market weakness seen in the last month.
The MMO figures show that in September milk prices across Europe increased by 0.6% with an average milk price of 29.91c/L paid. According to the figures, the average price paid for milk in Ireland 29.13c/L.
The Irish figures were some 14% lower than the milk prices paid by processors in the same month last year.
Source:MMO
Despite the rise across the EU in September, the MMO latest estimates show milk prices in October falling back again. It estimates that the average EU milk price in September will be 29.69c/L a fall of 0.7% on September.
The MMO also estimate that Irish prices will fall 1c/L in October to 28.91c/L.
Production
Latest figures also continue to show Ireland setting the pace in terms of milk production in the EU.
The MMO says EU milk deliveries since the start of the year are running 1.3% ahead of 2014.
Source: MMO
September milk intake by Irish creameries and pasteurisers was up 16% year-on-year, figures from the Central Statistics Office (CSO) show.
Milk intake was estimated at 602.4m litres for September 2015.
From January to September 2015, 5,326.6m litres have been collected by creameries and pasteurisers. This figure is up 9.9% on the corresponding period in 2014, the figures show.