Dairy prices to stay up, says Rabobank

Agribank analysts Rabobank say that ongoing strong demand from China will keep dairy prices high for at least the first half of 2014. Export supply increases seen since September have been largely absorbed by the country, which has recently culled two million dairy cows. Whole milk powder has held above $5,000 (€3651) per tonne and back-up stocks have been depleted in many regions, notes analyst Tim Hunt.