Dairy prices ended the 2015/6 season on a firm note with the GlobalDairyTrade price index rising by 2.6 per cent at this morning's auction.
The average winning price across the auction was US$2283 a tonne.
Prices for the all-important whole milk powder firmed by 3.0 per cent to US$2252 a tonne while the another key product for New Zealand producers - skim milk powder - dropped by 0.9 per cent to US$1658 a tonne.
Elsewhere, anhydrous milk fat prices gained 4.9 per cent to US$3340 a tonne while butter gained 3.8 per cent to US$2697 a tonne. Butter milk powder shot up by 16.2 per cent to an average US$1545/tonne.
AgriHQ dairy analyst Susan Kilsby said the lift in whole milk powder prices on GDT was supported by the fact that the volume made available by Fonterra for sale on the platform was the lowest it had offered to the market in more than three years.