Futures prices signal lift in next week's GlobalDairyTrade auction

Fri, 12 Aug 2016

By Tina Morrison Aug. 12 (BusinessDesk) - The price for New Zealand's key dairy product, whole milk powder, looks set for a second strong uplift at the GlobalDairyTrade auction next week, according to traders who are pricing in an increase on the NZX futures market. Whole milk powder futures contracts for August through December are all trading at a premium to their previous GDT level, implying prices will gain. The average whole milk powder price rallied 9.9 percent to US$2,265 at the last fortnightly auction and premiums on the futures...

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