6 Sep 2017

Dairy prices up in first rise since July

10:27 am on 6 September 2017

Prices have risen slightly in the latest global dairy auction.

Low milk prices and plummeting milk production are forcing many UK dairy farmers out of the industry.

Dairy prices have edged up for the first time since July. Photo: 123RF

The average price rose by 0.3 percent to $US3323 a tonne.

The price of whole milk powder - one of New Zealand's largest exports - fell by 1.6 percent to $US3100 a tonne.

Butter rose by 3.8 percent and is now back up to $US5954 a tonne.

As butter increases in price, Fonterra is shifting more milk into its production and away from anhydrous milk fat.

Total volume sold was up by 3.8 percent.

The price rise is the first since July - with small falls in the two auctions last month - but overall prics have been steady for the past few months.