Has the tide turned on dairy prices?

Fonterra chief executive Miles Hurrell said there was an improved outlook for both supply and demand. (Image: Getty)

Tue, 10 Oct 2023

While there has been somewhat of a rebound in dairy prices, there's still a lot of volatility left to play out in the market.Global prices have been under pressure for most of the current dairy season, mainly due to lower demand out of China – a key market for New Zealand exports.Prices fell at the first six Global Dairy Trade (GDT) auctions of the season, hitting a near five-year low at the Aug 15 auction when whole milk powder (WMP) – a key contributor to Fonterra’s payout – tumbled by 10.9% to US$2,548 (NZ$4,268)...

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