The first Global Dairy Trade auction for 2019 is on 2 January, from midday GMT
The most recent results from the auction have been a more positive input for the NZ dollar, following a long string of negatives:
I haven't seen much in the way of expectations for this auction, but for (in a nutshell) general background:
- global milk production expansion in 2019 will face constraints from:
- herd numbers falling in in Australia, Europe and the US
- New Zealand production to be impacted by land use (competition from other users) and resource constraints