A dead cow bounce or more?

Stuff reports:

Dairy prices bounced nearly 15 per cent in the fortnightly Global Dairy Trade auction overnight.

The rise is welcome relief for the beleaguered industry, with Fonterra earlier this month slashing the price it pays farmers for milk solids to $3.85 per kilogram from $5.25.

The drop in the payout came after dairy prices fell to half what they had been in 2013/14.

The overnight rise in prices followed 10 consecutive falls since mid-March.

 The overall price index rose 14.8 per cent, with whole milk powder up 19.1 per cent.

Will be interesting to see if this represents a trend, or is a one off bounce.