Global Dairy trade auction beginning at 1200GMT on 18 June 2019.
Recent results:
- We expect whole milk powder prices to fall 2%
- At the current juncture, futures pricing points to a fall of around 1%.
- With prices relatively high, it appears that buyers are sitting on their hands and waiting for the spring lift in NZ production. This situation is leading prices to drift lower. However, we anticipate that prices will eventually move higher as we expect NZ spring production to undershoot production levels from a year ago.
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Dairy is a big NZ export, better results should a positive input for the currency (And vice versa)
