In the immortal words of Etta James - “At Last.”
Prices in the latest Global Dairy Trade auction, held overnight, have risen significantly - up 3.2 per cent across the board.
It is the first increase since December 6, with the index falling 2.8 per cent on January 3 and 0.1 per cent on January 17, to kick off 2023 on a sour note for dairy farmers.
Whole milk powder, which peaked in March 2022 at US$4757/MT, rose 3.8 per cent to an average of US$3329/MT – US$111 more than two weeks ago.
Skim milk powder - Fonterra’s second-biggest reference product - remained flat, with an average of US$2829/MT, after a 0.3. per cent drop last time.