Commodity prices hitting record levels, expected to stay stronger for longer stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
Dairy prices remain elevated after the latest global auction.
Dairy prices slipped in the overnight global auction although they remain elevated, boding well for payments to farmers for next season, analysts say. Both the global dairy trade price index and the whole milk powder price index eased 0.2 per cent. Whole milk powder prices have the most impact on what farmers are paid. The average price of whole milk powder gained US$8 (NZ$11) a tonne to US$4123/t, which is 54 per cent higher than a year ago. While prices fell for the two nearest contracts at the overnight auction, prices for later dated contracts increased, signalling future demand remains strong.
Global dairy prices remain high after slipping at overnight auction stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.