Dairy commodity prices lifted 1.5% on Fonterra's overnight
online auction this week, clawing back from a price drop in
the previous sale two weeks ago.
The attention of the world's dairy markets will be focused on
today's globalDairyTrade event after news cyclones, floods
and bush fires have cut Australian milk production by at
least 100 million litres this season.
Concerns global milk production could be hit by a low
European grain harvest helped send dairy prices soaring 16.9%
at Fonterra's globalDairyTrade internet auction on Wednesday.
Economic uncertainty and the start of a new European dairy
season saw milk powder prices fall nearly 14% in Fonterra's
monthly internet auction on Tuesday night, a trend that could
continue for the next few months.
