New Zealand weather may keep global dairy markets volatile

Dry weather in New Zealand is affecting milk prices her in Ireland, writes Stephen Cadogan.

Volatile dairy incomes may take yet another unexpected turn, due to drought in New Zealand, the world’s No 1 dairy exporter.

Teagasc this week predicted the Irish milk price will fall 10% in 2018, but on Tuesday, prices rose for the first time in five Global Dairy Trade auctions, which have an important bearing on global prices.