NZD traders - heads up for the GDT dairy auction coming up Tuesday London time

Author: Eamonn Sheridan | Category: News

On Tuesday 19th February from around midday London time, GlobalDairyTrade (yep, spelt without spaces) auction.

Recent results … prices uncowed by developments, bidders herding higher:

GlobalDairyTrade auction resultsFor tonight …

Westpac:
  • priced by futures to result in another gain in whole milk powder prices
ASB looking for higher WMP also:
  • Two weeks ago whole milk powder (WMP) prices jumped by over 8%, and a similar result appears likely this auction
  • At the current juncture, futures pricing suggests WMP prices will rise by over 6%. We take this indicator at face value, particularly as key Chinese buyers return to the market after their New Year holidays.
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