The Ornua purchase price index (PPI) for the month of September is 121.8, up from 118.1 in August. By our estimates, this result is the highest index reported by Ornua since early 2014.

The September Ornua result just announced equates to a gross milk price of 41.7c/l. If we then take off the assumed processing cost of 7c/l, it leaves a net milk price of 34.7c/l.