GlobalDairyTrade (GDT) auction begins at midday in London, the results will come out in the hours following.
Dairy is a huge NZ export, the price is a factor in NZD movement.
Recent results:
For today's auction, this via ASB:
- We expect no change in whole milk powder prices at the GlobalDairyTrade auction
- At this stage, the dairy market reaction to the coronavirus outbreak has been mild.
- However, we wouldn't rule out a bigger reaction as the Chinese yuan has weakened… and developments are very fluid day to day. Also, note that Chinese buyers represent largest group on the dairy auctions
