Dairy trade auction price jumps again

World dairy commodity auction prices rose 9.4% this week — but the headline 19% price was for whole milk powder, of which New Zealand is the largest supplier.

The price for skim milk powder which is sourced mostly from the northern hemisphere rose by 6.7%.

New Zealand dairy leader Fonterra recently reduced its 2014-15 milk volume forecast to 3.3% below the record 2013/2014 output.