NZD traders - heads up for the GDT dairy auction coming up Tuesday London time
On Tuesday 19th February from around midday London time, GlobalDairyTrade (yep, spelt without spaces) auction.
Recent results … prices uncowed by developments, bidders herding higher:
- 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.