NZD traders - Dairy auction coming up today

Author: Eamonn Sheridan | Category: News

A quick preview of the coming Global Dairy Trade (GDT) auction coming up during the London time zone today

It starts around midday London time

Check out the graph above .... the previous result was another slide, for 3 in a row

For today's auction, though, dairy futures are pointing to a bounce of around 5% in whole milk powder prices.

Says ASB:

Production so far this season has been weak and the outlook is for further weakness ... but ...

  • "We see the current prices as out of whack with dairy fundamentals.
  • We do note that the market is factoring in some milk powder scarceness later in the season -
  •  ...  the overall price level is still too low"
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