NZD traders - heads up for the GDT dairy auction coming up Tuesday
NZD is holding above its US afternoon surge above 0.6550, being assisted by wider USD weakness.
Coming up Tuesday from noon London time, the dairy auction.
Westpac expect another fall in price - whole milk powder down modestly
- New Zealand spring and the seasonal increase in production approaches
- Over coming months, we expect global dairy prices to drift lower as New Zealand production continues its seasonal rise and as the global recession weighs down dairy demand.