News
Dairy product prices rose 11.4% at today’s Global Dairy Trade auction, the second biggest increase in prices this year.
Whole milk powder (WMP) was the main driver of the price increase at the latest auction, with prices rising 19.8%.
The NZX Futures market had pointed to a 10% rise for WMP auction prices overnight, but prices surpassed this prediction.
Skimmed milk powder (SMP) prices increased 6.5% and butter prices were up 4%. Not all dairy products saw price increases, with Lactose prices down 4% and butter milk powder (BMP) down 5.4%.