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The GlobalDairyTrade price index was up 1.4% over night, with whole milk powder up 5.5%.
The lift follows better sentiment across markets generally, says ASB rural economist Nathan Penny. For example since the last auction, the S&P 500 has lifted around 4%.
The rise was bang on expectations, he says. WMP led the way, posting a 5.5% increase (although WMP remains around 13% lower than as at the end of 2015). Casein recorded the largest increase (up 14.9%), while SMP rose a more modest 1.3%.
ASB is maintaining its 2015-16 and 2016-17 milk price forecasts at $3.90/kgMS and $6/kgMS, respectively.
Key Results from last night' s GlobalDairyTrade Event 159:
AMF index down 8.3%, average price US$3,254/MT; Butter index down 0.5%, average price US$2,811/MT; BMP index down 2.9%, average price US$1,452/MT; Ched index down 0.7%, average price US$2,528/MT; LAC index up 7.9%, average price US$613/MT; RenCas index up 14.9%, average price US$4,569/MT; SMP index up 1.3%, average price US$1,802/MT;
WMP index up 5.5%, average price US$1,974/MT.
As dairy farmers lock in plans for the upcoming mating season, a partnership between Fonterra and Silver Fern Farms has been formed with the aim of making it simpler to create additional value from calves not entering the replacement herd.
South Waikato farmer Bas Nelis is always interested in fine-tuning his business to improve results.
Fonterra has reduced its forecast 2026/27 Farmgate Milk Price.
Fonterra's Whareroa site took home the prestigious Directors Award at the co-op's 'Oscars of Manufacturing', while Clandeboye led the way with multiple wins at this year's Best Site Cup.
After 25 years it is the right time to step away, says Colin Glass, the retiring chief executive of New Zealand's largest private corporate dairying company, Dairy Holdings.
Tayla Steele is in her fourth year of a Bachelor of Veterinary Science at Massey University in Palmerston North.
The Ministry for Primary Industries (MPI) says no new cases of H5 bird flu have been detected following a case found earlier this week.
Two months after unveiling a major upgrade to its beef product, Halter says its farmers are on track for major production gains and additional grass growth.
New Zealanders are being urged to be alert following a confirmed positive case of H5 bird flu this week.
With a third of NZ dairy farmers still running outdated refrigerants, the country's largest farm refrigeration company says the opportunity for quick, meaningful emissions gains has never been clearer.
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