Prices are up 6.7 percent in Fonterra's latest global dairy auctions.
Importantly, the price of whole milk powder has risen by a massive 8.4 percent.
Skim milk powder's up 3.9 percent and butter's up by 4.2 percent.
JMI Wealth director Andrew Kelleher says it's getting pretty dry out there, and it's not clear how long that will continue.
He says we need to find out what the impact on the last bit of milk production for the season will be, and whether it'll drop back again.
