[8 February/The Country]

International dairy buyers concerned about a New Zealand production downturn have buoyed global dairy prices, as they seek to stockpile product. At the fortnightly GlobalDairyTrade auction, prices rose an average of 5.9% across all products, while the crucial whole-milk powder trade was up 7.6%. ASB rural economist, Nathan Penny, said the recent stall in New Zealand dairy production had supported the lift in auction prices. Mr Penny noted that due to the recent rain, the auction price strength would prove temporary. AgriHQ Dairy Analyst, Amy Castleton, also added that buyers seemed to be nervous that they would not be able to fulfil their requirements if New Zealand milk production continued to fall.