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

Author: Eamonn Sheridan | Category: News

GlobalDairyTrade (GDT) auction begins at midday in London, the results will come out in the hours following.

Dairy is a huge NZ export, traders watch the results of this auction, which is held once a fortnight (approximately).

Recently:
GlobalDairyTrade (GDT) auction begins at midday in London, the results will come out in the hours following.
What to expect today via ASB:
  • We expect whole milk powder (WMP) prices to lift 2.0% at the GlobalDairyTrade auction overnight Tuesday. A fortnight ago WMP prices firmed 1.7%, recovering some of the lost ground from the prior auction. 
  • NZ and global production growth is soft and this is likely to continue to support dairy prices.
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