Comments from ANZ following the further price falls in the overnight GlobalDairyTrade auction
- Expect dairy payout to drop to NZ$3.75-NZ$4.00/kg MS
- Adds that "it is a guessing game where the bottom might be"
- ANZ further say they have "nothing good to say" about overnight GDT auction
- Say volumes on sale are set to rise over coming months, but demand, particularly from China, is "conspicuously absent"
NZD ... well that's testing towards lows last seen in 2010:
Back to today ....
I'll have the orderboard soon, but for the time being ... resistance initially 0.6620/25
Support .... hmmm .... scalpers might want to weigh in .... there ain;t much at present (unless you go back to 2010 levels ... which I won't ;-) )
