One for the NZD traders - dairy auction coming up on Tuesday
The Global Dairy Trade auction today during London time, 15 September 2020.
Results should begin to come in from around midday London time.
Comments from Westpac on what to expect (in brief):
- expect whole milk powder prices will be unchanged at this auction
- the dairy futures market ... is pointing to a modest price lift of around 1% as at the time of writing ... (Friday)
Over the coming months, we expect global dairy prices to drift lower as New Zealand production continues its seasonal rise and as the global recession continues to weigh on global dairy demand