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When the Chinese were told to drink milk to stay healthy and recover from the Covid-19 pandemic, New Zealand's dairy farmers celebrated. The Global Dairy Trade, explained. Audio
Dairy farmers have had some relief overnight, as prices rose by nearly five percent in the latest Global Dairy Trade auction.
Prices have dropped slightly in the global dairy auction overnight, in the first fall since early March.
Fonterra has raised its forecast payout to farmers by 50 cents to $5.25 a kilo of milk solids, after another rise in dairy prices this morning.
Global dairy prices have risen sharply for the third auction in a row, with prices coming close to farmers' break-even range.
A currency strategist is expecting a lift in dairy prices in the overnight global dairy trade.