There's some good news for dairy farmers following the latest Global Dairy Trade (GDT) event.
Dairy commodity prices rose 1.9 percent overall in the auction, with an average price of US$2979 per metric tonne (MT).
Whole milk powder was up 2.2 percent, to US$2829/MT.
The skim milk powder index was up 3.1 percent, with an average price of US$2,609/MT.
The price for cheddar rose 1.4 percent, while the anhydrous milk fat index was up 0.8 percent.
The only commodity to fall was butter, which was down 1 percent.
"The price gains this week are another step in the right direction for our 20/21 season forecast of $6.50/kg, but we remain cautious about the outlook," said Chris Tennent-Brown, ASB senior economist.
"We are hoping to see these prices maintained over the important spring months to gain more confidence."
Volumes at the event were down 3 percent on the last auction, and 12 percent less than the same time last year.
