Each month Ornua announces an index price for a basket of commodity dairy products to allow farmers compare global market returns to farmgate milk prices.
The Ornua Purchasing Price Index (PPI) lifted for January.
The result which was published on Wednesday 3 February put the index at 107.3, up from 104.2 last month, which translates into an equivalent price lift of 1.2c/litre.
When adjusted for the Ornua Value Payment and accounting for 7 c/l assumed processing costs it puts the January equivalent milk price at 29.73c/l ex VAT (31.4 incl VAT).
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So taking the January equivalent price at 29.7 c/l and then adding on the estimate of the Ornua Value Payment of 2.34 c/l, we get the final comparable equivalent milk price of 32.04c/l ex VAT (33.7c/l incl VAT).
Farmers can compare this price directly with their own co-op milk price. The average of the December milk league was 30.4c/l ex VAT at base solids.
The GDT index finished up 1.8% this week. This is the sixth consecutive lift. The price of whole milk powder lifted 2.3% to $3.458/t.
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The Ornua Purchasing Price Index (PPI) lifted for January.
The result which was published on Wednesday 3 February put the index at 107.3, up from 104.2 last month, which translates into an equivalent price lift of 1.2c/litre.
When adjusted for the Ornua Value Payment and accounting for 7 c/l assumed processing costs it puts the January equivalent milk price at 29.73c/l ex VAT (31.4 incl VAT).
So taking the January equivalent price at 29.7 c/l and then adding on the estimate of the Ornua Value Payment of 2.34 c/l, we get the final comparable equivalent milk price of 32.04c/l ex VAT (33.7c/l incl VAT).
Farmers can compare this price directly with their own co-op milk price. The average of the December milk league was 30.4c/l ex VAT at base solids.
The GDT index finished up 1.8% this week. This is the sixth consecutive lift. The price of whole milk powder lifted 2.3% to $3.458/t.
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