Milk prices at the GlobalDairyTrade auction edged higher earlier this week. The GlobalDairyTrade index, based on sales prices at the auction, rose by 1.3%, compared to last event two weeks ago. Prices of benchmark whole milk powder rose by 1.0%, the first rise in prices seen so far this year. Last week, global Milk giant Fonterra announced it has increased it average payout to its Australian farmers.

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