The whole milk price increased 24.2% to $US2,858 per tonne in last night’s globalDairy Trade auction.
That follows an increase of 25.8% last month.
Fonterra chairman Henry Van der Hayden said in an email to shareholders that this is a sign dairy prices are firming. Global supply is down and inventories are tight
UPDATE: Interest.co.nz notes the acution included 2000 tonnes of Australian whole milk powder.