Another bounce in milk prices will spell some relief

BNZ senior economist Doug Steel said indicators suggest another decent price gain is likely. (Image: Getty)

Tue, 03 Oct 2023

Dairy prices are tipped to rise in this week’s global dairy auction, which is good news for farmers battling higher costs.ANZ Bank is expecting another “good-sized bounce” of at least 5%, as offshore buyers look to be showing renewed interest.The auction takes place overnight on Tuesday.Dairy prices lifted 4.6% in the prior auction two weeks ago, boosted by a 4.6% lift in whole milk powder.The futures market is expecting increases across the board at the auction. Production strugglingBNZ senior economist Doug Steel ...

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