Dairy prices are continuing their upward trend. 

Overall prices are up a further 4.3% at the latest Global Dairy Trade auction overnight, with the all-important Whole Milk Powder price up 4.2%. 

It's the fourth consecutive rise, with prices now 17% higher than they were back in August. 

Prices are 38% lower than the record high reached last year, but JMI Wealth Director Andrew Kelleher told Mike Hosking that dairy farmers have reason to celebrate. 

He says the rising prices support Fonterra's decision to lift its forecast Farmgate Milk Price for this season. 

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