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Prices fell 3.9% at the final Global Dairy Trade auction of 2017.
Whole milk powder (WMP) prices were down 2.5% and skim milk powder (SMP) prices were down 4.8%.
Butter prices were down 2.3%, with an average price of US$4,474/t. The biggest fall in price was from the cheddar index, which was down 7.9% to an average price of US$3,389/t.
Ornua PPI
Meanwhile, Ornua's purchase price index (PPI) of dairy commodities for November is down more than one point on October's value.
The index for November is 115, adjusted from 116.4 in October. This reflects falling butter returns and lower prices for protein (SMP and whey), partially offset by higher cheddar prices.
The PPI value for November is equivalent to a farmgate price of 33.11c/l excluding VAT, based on Ornua’s product purchase mix and assumed costs of 6.5c/l.
Dairygold, Kerry and Arrabawn set November milk prices
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