Weighted average prices of dairy products rose at the global dairy trade (GDT) auction event on 18 April 2017 following news of heavy rain in northern New Zealand regions that resulted from cyclones Debbie and Cook. The price of skim milk powder rose 7 per cent to US$2,044 a tonne, cheddar cheese by 5 per cent to US$3,462 a tonne and whole milk powder by 3 per cent to US$2,998 a tonne. The price of anhydrous milk fat remained relatively unchanged at US$5,930.
Saleyard trade lamb prices reached record highs in Victoria at 686 cents a kilogram in the week ended 19 April. Strong restocker demand for flock rebuilding in response to greatly improved seasonal conditions supported prices, and processor and export demand has continued to be firm.
Indicator price table
ABARES Weekly Australian Climate, Water and Agricultural Update (20 April 2017)