GlobalDairyTrade (GDT) auction begins at midday in London on July 16, the results will come out in the hours following.
Recent results:
What to expect (comments via ASB):
- We expect whole milk powder prices to lift 1%
- futures pricing also points to rise of around 1%.
- A fortnight ago, whole milk powder (WMP) prices fell by 4.3%
- Over the next few auctions, dairy auction prices are likely to continue to post small changes either way until it becomes clearer as to the strength, or otherwise, of NZ spring production
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Higher dairy is a supportive input for the NZD.
