Dairy markets continue to strengthen

An average rise of 1.7% in Fonterra’s GlobalDairyTrade (GDT) auction results on Tuesday just about kept global dairy price momentum going.

The average price had risen 7.7%, 12.7%, and 6.6% in the three previous auctions conducted by Fonterra, the giant New Zealand co-op which generates about one third of global dairy exports.

Auction prices on Tuesday rose 3% for skim milk powder, the main commodity influencing the EU market.