Global dairy prices at their highest since June 2023

(Image: Getty)

Wed, 17 Jan 2024

The 2.3% lift in global dairy prices overnight was broad-based and “modestly surpassed” expectations, says Westpac Bank chief economist Kelly Eckhold.“We continue to think that expectations of reduced production data in NZ and offshore may still be supporting prices,” Eckhold said.Overall prices now sit at their highest since June 2023. Prices have lifted by around 25% since the low they hit last August.Overall prices are now up 3% on a year ago, 4% below their 5-year average levels and 5% above the 10-year average.Looki...

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