Lakeland Dairies is the first processor to set its November milk price, increasing it by 1.2c/l to 37.2c/l, excluding VAT, in the Republic of Ireland.
In Northern Ireland, the milk processor has increased its price by 1p/l to reach the current total of 31.5p/l.
On Monday, the board of Lakeland Dairies said the price will be paid for milk at 3.6% fat and 3.3% protein.
A spokesperson said: “Global dairy markets remain stable with currently reliable levels of demand overall and a lower rate of growth in supply from the main dairy producing regions.
“Strong demand and consumption in Asia continue to be a positive factor.”
Lakeland Dairies said it will continue to monitor the milk market closely in the coming weeks.