16 May 2018

Dairy prices reach highest level in months at auction

7:22 am on 16 May 2018

Dairy prices have risen to their highest level in eight months in the latest global auction overnight.

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Photo: RNZ / Russell Palmer

The average price was up 1.9 percent to $US3637 ($NZ5301) a tonne, compared with a 1 percent fall in the previous auction two weeks ago.

The price of whole milk powder, a key factor in setting returns to local farmers, was marginally higher at $US3226 a tonne.

There were strong lifts for skin milk powder, butter, and cheese.

The volumes sold were down about 7 percent.