The “GlobalDairyTrade” (GDT) is an auction platform for internationally traded commodity dairy products – and the next “trading event” is scheduled to begin at 1200GMT on 4 November 2014. Trading events typically last approximately 2-3 hours.
It is difficult to come across many forecasts/predictions/expectations (call it what you want) for the GDT, but a couple of factors to note about tonight’s:
- Auction supply has been reduced by Fonterra
- EU supply, though, has moved higher
- China may see an uptick in seasonal demand
- Wespac are thinking ” we could see modest price gains for whole milk powder this time” (and, to be fair to them, its not a strongly held view by then and they do expect further price weakness in coming months)
Recent results:
