For the kiwi traders its worth keeping an eye on price developments for this huge NZ export
The GlobalDairyTrade (GDT) auction begins at midday in London on Tuesday, the results will come out in the hours following.
Previous results:
Westpac expect another higher price result at the auction on Tuesday::
- We expect whole milk powder prices will lift a touch at the upcoming dairy auction. Prices jumped 5% at the last auction, as commodity markets were buoyed by Covid vaccine news.
- Dairy markets are starting to anticipate more normal economic activity and dairy demand next year. With little room for supply to respond, the upshot is that prices are likely to move higher in the short term.
