date:Jul 17, 2013
The Global Dairy Trade-Trade Weighted Index rose 4.9% with an average selling price of $US4,828 per tonne. That compares with $US2756 dollars per tonne in July last year.
The benchmark whole milk powder price surged 7.7% to more than $US5000 a tonne. Buttermilk powder was up by 4.8%.
Nearly 38,000 tonnes of product was sold at the auction overnight on Tuesday, down 2.4% from the previous auction two weeks earlier.
BNZ economist Doug Steel said the strengthening dairy market is largely driven