MARKET OPEN: Local investors face uphill day as dairy prices slide, jobs report looms

Wed, 05 Aug 2020

Local investors will be struggling to find any good news today after dairy prices fell the most this year in the overnight auction, and ahead of labour data set to show a spike in unemployment through the covid-19 lockdown. The Global Dairy Trade index fell 5.1 percent, weighed down by a bigger-than-expected 7.5 percent fall in whole milk powder - New Zealand's key dairy export. The index fall was the largest since December 2019. Supply is ramping up and “buyer appetite waned, possibly taking a ‘wait and see’ approach as New Zealand offe...

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