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Higher milk powder prices and stable butter and cheddar returns have led to an increase in the Ornua purchase price index (PPI) for November to 30.26c/l, excluding VAT.
The PPI for the month is 106.6 percentage points and is up from 105.6 in October.
The equivalent milk price has increased from 29.88c/l, excluding VAT, last month and is based on Ornua’s product purchase mix and assumed costs of 6.5c/l.
At this week’s Global Dairy Trade auction, average dairy prices fell by 0.5%. While overall prices were down, skimmed milk powder prices jumped more than 2% to $3,068/t (€2,769/t).
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