'Jittery' market piles into record volume of dairy derivatives after steep price drop at GDT auction

Thu, 05 Jul 2018

By Jonathan Underhill July 5 (BusinessDesk) - Unexpectedly weak prices for whole and skim milk powder at this week's Global Dairy Trade auction have seen market participants pile into a record volume of dairy derivatives on the NZX, with most of the jump in options to buy or sell the products. The record volume was 6,415 lots on July 3, according to NZX Dairy Derivatives data. That beat the previous record set in 2015 of 5,994. At the Global Dairy Trade auction overnight last Tuesday, prices fell, led by an unexpectedly big decline in who...

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