The overnight Global Dairy Trade auction lifted just 0.1%, held up by powders, NZX head of dairy insights Cristina Alvarado says.

Whole milk powder rose 0.2% and skim milk powder 1.2%, while cheddar was the standout at 3.8%. Anhydrous milk fat and butter were the only products to fall.

She says buyers are covering their bases ahead of the peak season.

“Anyone who works in the industry tries to prepare having enough ingredients to produce for that time,” she says.

Heat and dry weather in the northern hemisphere and shipping delays are adding uncertainty.

About 22,000 tonnes sold, most into October and November contracts.

CountryWide CONNECT with Andy Thompson & Sarah Perriam-Lampp is our daily rural show livestreamed from 11am-1pm. Visit country-wide.co.nz on how to watch/listen or download the CountryWide CONNECT mobile app, available on Apple iOS and Android.