Dairy prices are on a roll. The global dairy trade auction overnight saw prices hit their highest levels in nearly seven years.
The price of whole milk powder, which strongly influences the payouts for local farmers, increased 2.3 percent to $3,458 US a tonne.
And Fonterra upped its forecast Farmgate milk price on the news – the mid-point is now $7.20 per kilogram of milk solids.
Emma Hatton asked an analyst with Rabobank, Emma Higgins, what's driving the growth.
