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Dairy prices up in latest global auction

Wednesday, 17 January 2018 at 9:52am

New Zealand dairy farmers were pleased to see Global Dairy Trade auction prices rise by nearly five percent overnight.  

The average price for milk commodities rose to 4.9% to $US3310 a tonne. Whole Milk Powder (WMP) price was up 5.1%.  Skim milk powder prices rose 6.5% and butter prices grew by 8.8%.

 

This is great news for New Zealand,  after months of near-stagnant or falling prices.

 

The prices may have reflected a fall in volume of products put up for auction, 8.2 percent less than the previous auction a fortnight ago.

 

AgriHQ analyst Amy Castleton was quoted as saying "Buyers have not been paying much attention to NZ's dry conditions to date, as the effects of poor pasture production had not yet flowed through to milk production statistics. But this appears to have turned around at this week's GDT event."