The Kerry Group met earlier this week and decided to hold price at 26c/l base. The Kerry Group has now held milk price since the July price.

The board of Lakeland Dairies met on Friday where it decided to hold at 26.25c/l base. Lakeland has now held its base price since August.

Both prices are VAT inclusive.

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The decision by both processors to hold come in the wake of two consecutive slides in the Global Dairy Trade (GDT) auction and continuing fears of poor milk prices into 2016. The most recent GDT fell by 7.4%.

The Ornua Purchasing Price Index (PPI) was announced earlier this week for October. The September PPI was 90.6.