Dairy auction fiercely bid but storm clouds gathering

(Image: Getty)

Wed, 07 Feb 2024

Dairy prices were stronger than expected in the overnight Global Dairy Trade auction, but storm clouds may be gathering.After fierce bidding, the overall index price rose 4.2% to an average of US$ 3,571 (NZ$5,874) – the largest increase since October last year, New Zealand stock exchange (NZX) dairy analyst Rosalind Crickett said.The results of this auction “comfortably surpassed most expectations”, she said.The NZX-SGX derivatives markets had predicted flat to bearish results all around.ANZ Bank had tipped a 2% lift.“Gl...

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