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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.
One of Fonterra's largest milk suppliers says Fonterra's board and management have got what they wanted - a great turnout and a positive signal from shareholders on the sale of its co-operative's consumer and related business.
New Zealand First leader and Foreign Affairs Minister Winston Peters has blasted Fonterra farmers shareholders for approving the sale of iconic brands to a French company.
OPINION: A short-term sugar hit. That's what NZ First leader Winston Peters is calling the proposed sale of Fonterra's consumer and associated businesses.
When Professor Pierre Venter takes up his new role as vice chancellor at Massey University next February it will just be a matter of taking a few steps across the road to get to his new office at the Palmerston North Campus.
A large slice of the $3.2 billion proposed capital return for Fonterra farmer shareholders could end up with the banks.
One of Fonterra's largest milk suppliers says Fonterra's board and management have got what they wanted - a great turnout and a positive signal from shareholders on the sale of its co-operative's consumer and related business.
Wool farmers are hoping that efforts by two leading companies to develop a more efficient supply chain would eventually boost farmgate returns.
Acclaimed fruit grower Dean Astill never imagined he would have achieved so much in the years since being named the first Young Horticulturist of the Year, 20 years ago.
The Ashburton-based Carrfields Group continues to show commitment to future growth and in the agricultural sector with its latest investment, the recently acquired 'Spring Farm' adjacent to State Highway 1, Winslow, just south of Ashburton.
New Zealand First leader and Foreign Affairs Minister Winston Peters has blasted Fonterra farmers shareholders for approving the sale of iconic brands to a French company.
A major feature of the Ashburton A&P Show, to be held on October 31 and November 1, will be the annual trans-Tasman Sheep Dog Trial test match, with the best heading dogs from both sides of the Tasman going head-to-head in two teams of four.
