7 Jun 2017

Milk price rises for sixth time straight

6:47 am on 7 June 2017

Prices have risen slightly in the global dairy auction overnight.

Fonterra milk truck

Photo: RNZ / Rebekah Parsons-King

The average price lifted 0.6 percent to $US3395 a tonne.

This followed a 3.2 percent rise at the previous auction and is the sixth consecutive lift in global milk prices.

The dairy index is still at its highest level in about three years.

The important whole-milk powder price fell 2.9 percent to $US3143 a tonne, skim milk powder rose 7.9 percent, cheddar rose 14.5 percent and butter is up 3.3 percent.

Dairy farmers finished their milking season last week with a Fonterra milk payout of $6.15 per kilogram of milk solids.

The dairy co-operative's opening forecast for next season is $6.50.