# Big surge in global dairy prices overnight | RNZ

> Whole milk powder prices jumped nearly 20% at the overnight GDT auction, reaching their highest level in over two years and passing US$3,000 per tonne. AgriHQ said lower volumes drove the spike.

- Date: 2016-11-01 · published 2016-11-01T12:00:00.000Z
- Category: market · region New Zealand · magnitude low
- Page: https://feedsoft.ai/events/4654-big-surge-in-global-dairy-prices-overnight-rnz
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower available volumes at the auction support higher dairy commodity prices and farmgate milk price forecasts.

## Read by commodity

- MILK: bullish ▲

## Sources

- rnz.co.nz: https://www.rnz.co.nz/national/programmes/morningreport/audio/201822163/big-surge-in-global-dairy-prices-overnight

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.