Global dairy prices continue their rebound

(Image: Getty)

Wed, 07 Aug 2024

Global dairy prices have continued their bounce-back at an auction where the two most important reference products headed in different directions.After Tuesday night’s Global Dairy Trade (GDT) auction, the price index rose 0.5% to an average price of US$3,680 a metric tonne (NZ$6,176/MT).It’s the second increase since prices slumped at the auction at the start of July.Tuesday night’s auction is the fifth of the new dairy season.Whole milk powder, which has the biggest influence on Fonterra’s milk price and makes up...

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