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Dairy prices surprise in fifth rise

NZ Newswire logoNZ Newswire 16/05/2017
File photo of a person drinking a glass of milk © Bloomberg File photo of a person drinking a glass of milk

Dairy prices are up for a fifth consecutive time at Fonterra's GlobalDairyTrade auction.

The GDT Price Index was up 3.2 per cent and the average price to $US3313 ($NZ4809) per tonne on Wednesday morning (NZT).

The important whole milk powder price was up 1.3 per cent to $US3312 per tonne, confounding a decline predicted by futures pricing on the NZX.

Most product prices rose, apart from rennet casein, which was down 3.7 per cent.

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