NZ GDT price auction sees prices down -2.0%

Author: Greg Michalowski | Category: News

Average price of $2851

The latest New Zealand dairy auction showed prices down -2.0% with an average selling price of $2851 per tonne.

The price index over 10 year shows the index trending more to the downside over the last few months and below the midpoint level. 

The NZDUSD is higher on the day but coming off the day highs at 0.6683.  The 100 day MA comes in at 0.66573. The price has moved above and below that moving average over the last 3 trading days.  It remains a key barometer for bulls and bears despite its reluctance to run from the level too far (on upside or downside).   At some point the market will push away.  Being above the MA now tips the scales more in the favor of the bulls.

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