GlobalDairyTrade (GDT) auction begins at midday in London today, the results will come out in the hours following.
ASB on what they expect:
- We expect whole milk powder prices to fall 2% at the GlobalDairyTrade auction
- With prices relatively high, It appears that buyers are sitting on their hands and waiting for the spring lift in NZ production. This situation is leading prices to drift lower. However, we anticipate that markets are likely to be disappointed as we expect NZ spring production to undershoot production levels from a year ago
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