16 Jan 2019

Dairy prices up 4% in latest auction

9:50 am on 16 January 2019

Dairy prices have risen for a fourth consecutive global auction.

Serving fresh milk in a glass vase on a wooden table

Photo: 123RF

The average price was up 4.2 percent to $US3057 a tonne.

It follows a 2.8 percent rise in the previous auction two weeks ago.

Dairy prices have been rising since late November when they had hit a two-year low because of an oversupply on world markets.

The price for whole milk powder, which has a key influence of farmer payouts, was 3 percent higher at $US2770 a tonne.

Prices for most other products offered rose, with the biggest movements for skim milk powder, up more than 10 percent, and lactose, up almost 8 percent.

While prices rose, volumes were down 2.6 percent on last month's auction.