12.1% SMP price jump boosts dairy farmers

Dairy farmers have been boosted by a Global Dairy Trade auction average price rise yesterday of 3.4% for dairy commodities.

The auction includes a welcome 12.1% price rise for skim milk powder, an important EU commodity.

The whole milk powder price dropped 1.7%, but Fonterra, the world’s largest milk exporter, had doubled the volumes of WMP on offer, in a bid to capitalise on recently rising prices.