'Another step in the right direction': Dairy prices up 1.9 percent

Whole milk powder was up 2.2 percent.
Whole milk powder was up 2.2 percent. Photo credit: Getty

There's some good news for dairy farmers following the latest Global Dairy Trade (GDT) event.

Dairy commodity prices rose 1.9 percent overall in the auction, with an average price of US$2979 per metric tonne (MT).

Whole milk powder was up 2.2 percent, to US$2829/MT.

The skim milk powder index was up 3.1 percent, with an average price of US$2,609/MT.

The price for cheddar rose 1.4 percent, while the anhydrous milk fat index was up 0.8 percent.

The only commodity to fall was butter, which was down 1 percent.

"The price gains this week are another step in the right direction for our 20/21 season forecast of $6.50/kg, but we remain cautious about the outlook," said Chris Tennent-Brown, ASB senior economist. 

"We are hoping to see these prices maintained over the important spring months to gain more confidence." 

Volumes at the event were down 3 percent on the last auction, and 12 percent less than the same time last year.

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