The 24c/l does not include a 1c/l support payment to Milk Supply Agreement members, meaning member milk price is set at 25c/l. Glanbia, Ireland's largest milk processor, controversially cut its September base milk price by 1c/l in September despite other smaller dairy processors holding milk price for the month.
Earlier this month, the Ornua Purchase Price Index (PPI) for October was set at 90.1, down from 90.6 in September. A PPI of 90.1 equates to a farmgate price of approximately of 26.4c/litre, according to the IFA. IFA dairy committee chair Sean O’Leary said the stable October PPI should result in Irish co-ops holding prices for October.
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After two consecutive slides, prices at the Global Dairy Trade auction are expected to fall again today.
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The 24c/l does not include a 1c/l support payment to Milk Supply Agreement members, meaning member milk price is set at 25c/l. Glanbia, Ireland's largest milk processor, controversially cut its September base milk price by 1c/l in September despite other smaller dairy processors holding milk price for the month.
Earlier this month, the Ornua Purchase Price Index (PPI) for October was set at 90.1, down from 90.6 in September. A PPI of 90.1 equates to a farmgate price of approximately of 26.4c/litre, according to the IFA. IFA dairy committee chair Sean O’Leary said the stable October PPI should result in Irish co-ops holding prices for October.
After two consecutive slides, prices at the Global Dairy Trade auction are expected to fall again today.
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