NZX milk powder futures point to further declines at GDT auction

Wed, 01 Jul 2015

By Tina Morrison July 1 (BusinessDesk) - The price for New Zealand's key dairy export, whole milk powder, is set to decline further at tonight's GlobalDairyTrade auction as dairy companies head into the new season and ramp up production. The current July whole milk powder futures contract last traded on the NZX at US$2,200 a tonne, 3.7 percent below the winning price of US$2,285/tonne at the last GDT on June 16. Traders also pulled back their expectations for longer-dated contracts with the November futures contract priced at US$2,310/ton...

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