NZX milk futures suggest GlobalDairyTrade prices may drop 5% at next week's auction

Fri, 30 Oct 2015

By Tina Morrison Oct. 30 (BusinessDesk) - The price for New Zealand's key dairy export, whole milk powder, may drop about 5 percent at next week's GlobalDairyTrade auction amid lacklustre demand. The current November whole milk powder futures contract last traded on the NZX at US$2,550 a tonne, a discount to the US$2,740 a tonne at the previous Oct. 20 GDT auction. The longer-dated whole milk powder futures contracts are also all trading at a discount to the GDT, suggesting traders expect prices to fall at Tuesday night's auction. Whol...

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