NZ whole milk powder futures decline amid global equity slump

Tue, 25 Aug 2015

By Tina Morrison Aug. 25 (BusinessDesk) - New Zealand whole milk powder futures declined, paring their earlier gains, after concerns about slower growth in China pushed down global equity markets. September futures slipped US$50 a tonne to US$2,110, and contracts from October through May also fell, according to NZX data. Whole milk powder futures have rallied 46 percent from a low of US$1,450 a tonne earlier this month after Fonterra Cooperative Group said it would reduce the volume it offered on the GlobalDairyTrade auction platform...

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