GlobalDairyTrade (GDT) auction begins at midday in London on Tuesday, the results will come out in the hours following.
Previous results:
Via BNZ, what they are expecting,
- We believe that prices will fall a further 2.0 to 3.0% following the 4.7% decline in the previous auction.
- If we are right then it will start to call into question our current payout projection of $7.40.
- Of course, in this environment, anything is possible and we will be very awake to the possibility of a downside shock.
Not a promising outlook for dairy prices and farmers. Dairy is a huge NZ export.
