Milk powder prices may drop 7% at next week's GDT auction, futures indicate

Fri, 03 Mar 2017

By Tina Morrison March 3 (BusinessDesk) - The price of milk powder, New Zealand's key commodity export, is expected to fall on the GlobalDairyTrade platform next week after improved weather conditions prompted Fonterra Cooperative Group to increase the amount of product it's offering. Whole milk powder futures for March last traded at US$2,980 a tonne on the NZX, 5.7 percent below the equivalent price at the last GDT, while skim milk powder futures fell 12 percent to US$2,290 a tonne. That implies milk powder prices will fall about 7 perc...

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