Dairy prices have risen for the third time in a row at the last global dairy trade auction of the year.
The average price rose 2.3 percent to US$3388 a tonne, while the whole milk powder price, which affects the payouts for local farms, was up 2.9 percent to US$3207 a tonne.
Cheddar lifted 6.9 percent and butter was up nearly 10 percent.
NZX dairy analyst Rosalind Crickett said bullish results were anticipated.
“Overall, the result is pleasing to see for farmers and goes against the typical grain of historical pattern at the final GDT event of the year, in which normally the index price drops.”
Earlier this month, dairy cooperative Fonterra raised its forecast milk price to $7.50 a kilo of milk solids.
