3 May 2017

Dairy prices rise in latest auction

9:12 am on 3 May 2017

Prices have risen to their highest level this year in the global dairy auction overnight.

The average price at the overnight auction rose 3.6 percent to $US3166 a tonne.

It followed a 1.6 percent gain an auction a couple of weeks ago.

All but one of the eight products offered rose in price although volumes were slightly lower.

The price of wholemilk powder, which strongly influences payouts for local farmers, rose 5.2 percent to $3233 a tonne.

Recent market prices support the forecast final payout of $6 per kilo of milksolids.

Get the new RNZ app

for ad-free news and current affairs