Prices rose 3.8% in the latest Global Dairy Trade (GDT) auction after a 2.1% gain previously. Although markets had been expecting prices to advance at the latest auction, the gain triggered a further advance for the New Zealand currency ahead of a key interest rate decision next week. After prices declined in the first four auctions of 2016, there have been gains in three of the last four releases which will provide some relief over short-term prospects for the industry. Despite the recent recovery, prices remain around 15% lower than the recent peak in September 2015 and over 50% lower than the prices prevailing in... READ MORE
