NZX milk futures point to further declines in prices

Fri, 17 Jul 2015

By Tina Morrison July 17 (BusinessDesk) - A slump in the price of whole milk powder, New Zealand's key dairy export, is likely to continue according to traders who are pricing in further declines on the NZX futures market. The price for whole milk powder dropped 13.1 percent to an average US$1,848 a tonne at the latest GlobalDairyTrade auction overnight on Wednesday as many of the monthly contracts failed to attract sufficient bids for a winning price to be published. Continued weakness in dairy prices is being driven by increased supply...

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