Global dairy prices rise 2.3% at latest auction as El Niño threatens supply
Dairy prices jumped at the latest global auction as extreme weather in both hemispheres threatens future supply.
Global dairy prices lifted 2.3% at the latest Global Dairy Trade auction, reaching an average of US$3,873 per tonne. Record high temperatures in the Northern Hemisphere and the prospect of a potentially strong El Niño weather pattern in the Southern Hemisphere in coming months could disrupt dairy supply and support prices.
Covered byRNZ1NewsBusinessDeskNot covered byStuffNZ HeraldNewstalk ZBOtago Daily TimesNewsroomThe Spinoffinterest.co.nz
Coverage across the news outlets we track, as at publication.
What outlets are saying
RNZ
Dairy prices rally at latest global auction amid threat of El Niño disruption
Record temperatures in Europe and the prospect of months of El Niño-related disruption in the Southern Hemisphere could impact supply, expert says.
1News
Dairy prices rally at latest global auction amid threat of El Niño disruption
"Record high temperatures in the Northern Hemisphere, paired with the potentially strongest El Niño weather on record for the Southern Hemisphere in the months to come, could change the supply side dynamic."
BusinessDesk
Global dairy prices lift 2.3%
Global dairy prices have jumped as the market eyes a switch in supply-side dynamics. At the latest Global Dairy Trade (GDT) auction overnight on Tuesday, the sixth of the new dairy season, the price index lifted 2.3 % to an…