This is a subscriber-only article
The purchase price index (PPI) for November stands at 104.9, down 1.5% on the previous month, Ornua announced on Wednesday.
The index is equivalent to a farmgate price of 29.7c/l excluding VAT, assuming processing costs of 6.5c/l.
"The November 2018 Index reflects weaker returns for butter, balanced by improved cheese and stable powder returns," a spokesperson for Ornua said.
This is the third consecutive monthly decrease in the index, though not as severe as the 3.5% fall observed in October. The index is currently below 2017 levels, but above the three previous years'.
On Monday, the New Zealand-based Global Dairy Trade auction posted its first price increase in seven months.
SHARING OPTIONS: