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Dairy Update: Lucky 7
Dairy auction prices continued their surge overnight. Overall prices posted a solid gain of 3.0%, while whole milk powder prices (WMP) jumped 4.3%. Prices have now lifted for seven consecutive auctions. Over that period, the overall prices have bounced 22.9% higher. Also, prices are around 20% higher than a year ago. The overnight price lift was also broad-based. All of the six products that we monitor showed price rises. The WMP price rise led the gains, while cheddar (up 2.4%) and butter (up 2.0%) posted the next highest price gains, respectively. The year ahead. Our latest quarterly Economic Overview notes that ... (full story)