A heads up preview for New Zealand dollar traders with the GDT auction later today
- Due from 1200GMT
- The previous auction saw a 3.6% increase in the index
- Futures market pricing is suggesting a 5 to 10% increase in prices
- Fonterra has reduced the volume of whole milk powder offered for sale
This is the final auction for the year
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2015 won't go down as a bumper year for dairy prices:
So far this year:
GlobalDairyTrade (GDT) price index started 2015 at 784
- Rose through to March to 985
- Down to 514 in August
- Bounced to 837 in October
Prices for wholemilk powder:
- Peaked at US$3272 a tonne in February
- Down to US$1590 in August
- Bounced to US$2824 a tonne in October
- Down to US$2158 in November