The price for wholemilk went up 5.7% to US$3,022 per tonnein this morning’s globalDairyTrade (gDT) auction.
Fonterra chairman Henry Van der Heyden, says the lift shows an expected firming in pricing as the market rebalances.
He also says that overall production is up around 2% on last year. The North Island is up slightly and the South Island’s up nearly 8% to date.
The South Island increase reflects more conversions rather than more per farm, I think.