Dairy product prices rose at the Global Dairy Trade auction, increasing for the first time in five auctions, amid expectations that dry weather conditions in New Zealand might ease milk production. "Buyers may also be concerned about the dry conditions in New Zealan. At the latest GDT auction, skim milk powder climbed 4.7% to US$1,774 a tonne, while butter milk powder gained 4.3% to US$1,957 a tonne. Rennet casein added 3.4% to US$4,879 a tonne, while whole milk powder advanced 1.7% to US$2,830 a tonne. "Butter prices have now declined for five consecutive events, and have lost 25% of their value since September."

Source: Otago Daily Times December 05, 2017 20:15 UTC