3 Apr 2019

Dairy prices up at GDT for ninth time in a row

11:08 am on 3 April 2019

Dairy prices have risen slightly in the latest global auction to their highest level in nearly two years.

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Photo: RNZ/Susan Murray

The average price was up just under one percent to $US3483 a tonne, and is the ninth consecutive price gain.

The previous auction showed a 1.9 percent rise.

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

The price for whole milk powder, which has a key influence on farmer payouts, fell by 1.3 percent to $US3287 a tonne.

Prices for most other products offered rose with the strong gains for butter and cheese.

Volumes fell nearly 18 percent on the last auction.