Dairy prices eased at the first dairy auction of the new season, but analysts say demand is strong and prices remain firm. The  overall index slipped 0.9 per cent from the previous auction a fortnight ago, but it is still sitting 48 per cent above year ago levels. Dairy prices have jumped  as a result of demand from China where a wealthier population and increased focus on health and wellbeing after the Covid-19 pandemic is stoking demand for better nutrition.

Lets look at the details:
Anhydrous milk fat  down -0.8% to $US5,654 per metric tonne
Butter – down  5.4%  per cent to US$4690  /MT,
Butter Milk Powder down 7.5%  to $US3,810
Cheddar the only rise and  up 0.5%  to  $4,324
Lactose down 1.6% to $US1,236 …
Skim Milk Powder down 0.5 % to $US3,415
Whole Milk Powder down 0.5% to $US 4,062 per m/t
While it is the fifth decline in a row, the amount of that decline is below 1% each time.