Global dairy prices increase for first time since May

Some relief for dairy farmers as milk prices rebound. (Image: Getty)

Wed, 06 Sep 2023

Global dairy prices have somewhat rebounded, increasing for the first time since May.The latest global dairy trade auction, held overnight, comes after seven straight falls in prices, which saw Fonterra cut its forecast milk price twice in a month.At last night’s event, the GDT Index increased 2.7% to an average of US$2,888 (NZ$4911) per metric tonne (MT).Whole milk powder (WMP), which has the biggest influence on Fonterra’s milk price, jumped 5.3% to $2,702/MT, while skim milk powder, which is the second reference for Fonterra, fel...

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