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Modest rise in dairy price

Anna Cross
Updated

A small movement in the latest dairy price index.

The latest Global Dairy Trade Event has seen prices rise by a modest 1.1 percent.

It's the fifth consecutive rise at the fortnightly auction, after prices fell by around 50 percent in 2014.

Business correspondent Andrew Kelleher says it's not unexpected to see a plateau, given the strong moves in the last two auctions.

"It does lend support to the decision by Fonterra to wait before revising the forecast dairy payout and not a lot of impact on the currency this morning from that result."