NZX dairy futures point to further decline in whole milk powder from six-month low

Fri, 05 Feb 2016

By Tina Morrison Feb. 5 (BusinessDesk) - The price for New Zealand's key dairy product, whole milk powder, looks set to fall further, according to traders who are pricing in declines on the NZX futures market. At this week's fortnightly GlobalDairyTrade auction, the price for whole milk powder sank 10.4 percent to US$1,952 a tonne, its lowest since Aug. 18 when it hit a record low US$1,590 a tonne. Prices on the NZX futures market today show contracts for February through May are all trading below the last GDT level, ranging from US$1,755...

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