New data indicates the milk price cycle may be picking up after an earlier downturn.

The latest lift on October 17 saw prices move 4.3 percent, with milk powder up 4.2 percent and the overall average price reaching $3202 USD.

Fonterra has lifted their forecast by 50 cents and ASB and Westpac have since followed suit and increased their forecasts $7.35/kg MS and $7.25/kg MS respectively. 

The Country's Jamie Mackay is confident numbers will pick up after a dismal year for the dairy sector.

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