Global dairy prices bounce in latest auction

Global dairy prices bounce in latest auction
(Image: Getty)
Rebecca Howard
Global dairy prices rebounded in the overnight auction, snapping three consecutive falls. The Global Dairy Trade (GDT) index lifted 3.2%, boosted by a 3.8% gain in whole milk powder prices.Whole milk powder – which has the biggest influence on Fonterra’s milk price – sold at an average US$3,329 (NZ$5,288) a tonne.“Significant price gains across each contract period highlights that buyers were chasing product across the board,” said NZX dairy insights manager Stuart Davison. The lift will add to the view t...

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