Dairy product prices increased at the Global Dairy Trade auction, rising for the second time in a row amid optimism about the outlook.
The GDT price index advanced 1.6 per cent from the previous auction two weeks ago to US$3,005. Some 22,642 tonnes of product was sold, up from 22,498 at the previous auction.
Whole milk powder rose 2.4 per cent to US$2,924 a tonne.
"Buyers will be aware that New Zealand dairy farmers are having a strong finish to the production season which means there is extra milk powder coming on line, so in this environment it is very positive to see whole milk powder prices creeping back up," AgriHQ dairy analyst Susan Kilsby said in a note.
"The prices achieved were better than expected," Kilsby added.