Dairy prices continue upward trend at latest Global Dairy Trade event

It's the seventh consecutive auction in which prices have risen.
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.