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Dairy prices jump by 5.9 percent at GlobalDairyTrade auction

Dairy prices firmed across the board at this morning's GlobalDairyTrade auction, the GDT price index gaining 5.9 per cent since the last sale in mid-January.

Whole milk powder prices, which have the greatest bearing on Fonterra's farmgate milk price, firmed by 7.6 per cent to US$3226 - the fourth gain in a row since falling to US$2755/tonne late last year.

Price gains were across all seven of the product groups on offer.

Among the other Fonterra reference products, skim mik powder firmed by 7.2 per cent to US$1932 a tonne, buttermilk powder by 8.4 per cent to US$2039, butter by 7.9 per cent to US$5277/tonne and anhydrous milk fat price rose by 0.5 per cent to US$6581/tonne. The average price was US$3553/tonne.

More at NZ Herald.

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