Dairy prices up 7.2% at overnight auction

The rise in dairy commodity prices continued at Fonterra's overnight online auction, with the globalDairytrade trade weighted index rising 7.2% and the average winning price up to US$4246 per tonne from US$3960 a fortnight ago.

For anhydrous milk fat, the trade weighted price was up 9.2% to US$6486, skim milk powder gained 8.5% to US$3913, and whole milk powder lifted 5.7% to US$3995.

The rise in the auction prices comes after the ANZ commodity price index rose to yet another new high, lifting 3.8% in January, with the New Zealand dollar index up 2.3%.

Skim milk powder had the largest rise last month, lifting 14% from December, ANZ said yesterday.

NZPA

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