The UK’s 3,000 Arla Foods amba members will see no change in their milk price from 26 October, with the co-op maintaining a 23.04p/litre rate.
This is effectively the second month of stability after an increase of just 0.03p/litre at the end of September.
“Despite production slowing down and even declining in some parts of the world, global supply is still increasing,” said Ash Amirahmadi, head of milk and member services at Arla Foods UK.
See also: GDT dairy auction prices fall
“Milk exports from the USA and New Zealand have decreased while supply from the UK and mainland European markets continue to increase.
“After a couple of months of welcome growth the market for commodity milk powders has somewhat stabilised as shown by the latest GDT auction.
“However, the bulk cheese market is still under considerable pressure in Europe as a result of significant stocks and limited export opportunities partly due to the Russian ban on imported cheese.
“In central Europe and in the UK retail markets have seen a positive development, particularly on liquid products, which has contributed to the much-needed stability in our farmgate milk price.”