Dairy prices tipped to lift by as much as 3% at this week's auction

If dairy prices push higher, it could mean Fonterra opts to rejig its forecast payout. (Image: Getty)

Tue, 05 Dec 2023

Dairy prices are expected to tick higher at this week’s Global Dairy Trade auction, which may see Fonterra lifting its forecast payout for the current season. Westpac Bank said they expect whole milk powder (WMP) prices to lift 2% in this week’s auction after rising 1.9% at the previous auction. The auction will take place overnight on Tuesday. “Our pick roughly splits the flat result at the recent mini (GDT pulse) auctions and the circa 5% price lift as indicated by the futures market,” Westpac economists said.&nbs...

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