GlobalDairyTrade (GDT) auction begins at midday in London, the results will come out in the hours following.
Recent results have been positive, but the gains have been losing momentum:
ASB are looking for whole milk powder prices to fall at today’s auction::
- A fortnight ago whole milk powder (WMP) prices fell by 0.7%. At the current juncture, futures pricing points to a fall of around 1%. However, futures pricing have consistently overstated recent auction results. On this basis, we expect a circa 2% fall in WMP price