Its the Global dairy Trade (or GlobaDairyTrade as the cool kids say) auction day Tuesday 16 October 2018
Recent results:
ASB expect:
- whole milk powder prices to remain soft
- futures pricing suggests WMP prices will fall
- NZ production and auction volume offerings peaking over October
- we anticipate that prices will remain subdued until the dual peaks pass
- Low WMP futures prices for the current season (all under $2,850) reflect milk production's strong start to the season that was also captured in Fonterra's latest forecast last week
Results will start to come in from around midday London time
