17 May 2017

Dairy prices hit highest level in three years

7:30 am on 17 May 2017

Global dairy prices have made further gains overnight.

Organic milking teat cups.

Photo: RNZ / Alexander Robertson

The average price climbed 3.2 percent to $US3313 a tonne at the latest auction.

It marked the fifth consecutive rise and the dairy index is now at its highest level in about three years.

The important whole milk powder price rose 1.3 percent to $US3312 per tonne.

Prices have stabilised in recent weeks and point to a payout of $6 per kilo of milk solids for the current season.

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