NZD traders - heads up for the GDT dairy auction due today (Tuesday, London time)

The GDT (GlobalDairyTrade) auction begins at midday in London on Tuesday 15 May 2018

Results will start to come out about an hour and half after

The previous result (on May 1) was a 1.1% fall in the index:

Preview of today's auction via NAB:

• We expect a small increase in the overall GDT-weighted price index, after the surprising fall, of 1.1%, at the previous auction.
• This is as we count down to Fonterra making its first forecast of the 2018/19 milk price, due by end-May. This could reasonably be in the mid to high $6s, so at least as good as the $6.55 currently indicated for the 2017/18 milk price.

And, as a ps - Thursday (NZ time) is the government budget, the first for the new government.