Dairy prices rally at latest global auction amid threat of El Niño disruption

<p>Milk prices across several commodities have risen at the latest Global Dairy Trade auction.</p> <p>The average price rose almost 2.3% overnight to US$3873(NZ$6597). It followed prices holding steady at the last auction with just a 0.1% price increase two weeks ago.</p> <p>In a note, New Zealand Exchange dairy analyst Rosalind Crickett said it was another bullish result for most dairy commodities.</p> <p>"Sentiment in the market over the last couple of weeks remains centred around the same thing," she said.</p> <p>"While global milk production may have been strong in the year-to-date out of most regions, record high temperatures in the Northern Hemisphere, paired with the potentially <a href="https://www.1news.co.nz/2026/08/18/pretty-unusual-graphic-highlights-el-ninos-rapid-intensification/" target="_blank">strongest El Niño weather</a> on record for the Southern Hemisphere in the months to come, could change the supply side dynamic."</p> <p>Adding to this, she said it was a key time for buyers to get orders over the line ahead of the festive…