The latest Global Dairy Trade index rose 2.3%, with milk powders and proteins up and fats weaker. NZX dairy analyst Rosalind Crickett says heatwaves in Europe and the prospect of a strong El Niño are pushing buyers to lock in product.

“There’s just a bit of a perfect storm that’s actually working out quite nicely for New Zealand dairy at the moment,” Crickett says.

She says NZX’s farmgate milk price predictor is likely to lift towards $9.92.

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