21 Feb 2024

Dairy prices hit 18-month high

7:22 am on 21 February 2024
Dairy cows in a milking facility in New Zealand.

Photo: 123rf

Dairy prices have hit their highest level in 18 months.

The global auction overnight has seen the average price rise 0.5 percent to $US3664 ($NZ6079) a tonne - the highest level since October 2022.

It's the seventh consecutive lift at the fortnightly auction.

However the whole milk powder price - which influences payouts for local farmers - was down 1.8 percent.

Other products were mixed - cheese dropped nearly 8 percent, while skim milk powder was up 1.3 percent.

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