Dairy futures signal 6% gain at next GlobalDairyTrade auction, OMF says

Fri, 20 Nov 2015

By Tina Morrison Nov. 20 (BusinessDesk) - New Zealand whole milk powder futures contracts advanced, suggesting prices for the commodity may gain at the next GlobalDairyTrade auction. The price for whole milk powder, which is key to Fonterra Cooperative Group's payout to farmers, has declined for the past three consecutive GDT auctions. At the most recent event on Nov. 17, the whole milk powder index sank 11 percent to US$2,148 a tonne, its lowest level since Sept. 1. However a pickup in the NZX futures market the past two days has push...

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