NZ milk powder futures drop as Fonterra lifts GDT volumes, signalling prices will fall

Thu, 26 Mar 2015

By Tina Morrison March 27 (BusinessDesk) - New Zealand whole milk powder futures dropped after Fonterra Cooperative Group said it will increase the volume of product it puts up for sale on the GlobalDairyTrade platform, suggesting prices may extend their decline in next week's auction. Auckland-based Fonterra, the world's largest dairy exporter, has increased the amount of whole milk powder it will offer at the upcoming April 1 auction in Contract 2, which covers product with a June shipping date, by 14 percent to 4,965 metric tonnes. Who...

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