GlobalDairyTrade (GDT) auction begins at midday in London, the results will come out in the hours following.
(Hmmm … OK, the GDT calendar lists the auction on Wednesday instead … which is unusual … but if so, hold this preview over for a day!)
Recent results have been more positive:
For the NZD, with dairy such an important export for NZ, higher prices are a supportive input.
ASB in NZ are looking for whole milk powder prices to be unchanged after the 3% price rise at the prior auction: While futures pricing suggests WMP prices will rise by over 2% …. we continue our practise of discounting futures pricing given their poor performance as an indicator over recent times.
