NZD traders – heads up for GDT dairy auction day Tuesday London time

  


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:

GlobalDairyTrade (GDT) auction begins at midday in London on May 7 2019.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 priceĀ 



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