NZX dairy futures trade in record volumes on fear big wet will dent milk production

Wed, 12 Apr 2017

By Tina Morrison April 12 (BusinessDesk) - Persistent heavy rain in New Zealand, the world's largest exporter of dairy products, spurred record trading in NZX dairy futures yesterday as traders bet soggy pastures heading into winter will dent future milk production. A total of 4,680 futures contracts for whole milk powder, skim milk powder, anhydrous milk fat and butter were traded through the NZX yesterday, up from the previous daily record of 4,244 lots traded on Sept. 8 last year, NZX said. Prices for whole milk powder futures contract...

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