Dairy prices continue upward trend at latest Global Dairy Trade event

It's the seventh consecutive auction in which prices have risen. Photo credit: Getty

Dairy prices rose 3 percent overnight in the latest Global Dairy Trade event - the seventh consecutive auction in which prices have been up.

The average price for commodities was US$3746 per metric tonne (MT).

Whole milk powder - the most important product for New Zealander farmers - rose 4.3 percent to US$3615/MT.

Prices for cheddar rose 2.4 percent to US$4268/MT, butter was up 2 percent to US$5129/MT, and anhydrous milk fat increased 1.1 percent to $US5527.

Lactose also rose 0.4 percent to $US1232/MT and skim milk powder increased 0.3 percent to US$3207/MT.

A total of 26,883 metric tonnes of product was sold at the auction.

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