The negative result from the first GDT auction of 2017 saw a sharp correction in dairy futures markets. At the last GDT event, the average price of whole milk powder (WMP) fell almost 8% to an average of $3,295/t as Chinese buyer demand softened somewhat.
Dairy futures markets reacted negatively to this decline with February, March and April contracts for WMP weakening by 7% in price in the days after the GDT auction. Futures prices have since recovered some of this decline but overall the market remains tentative ahead of this week’s GDT auction on Tuesday.
Fonterra will offer more than …
Source: FarmersJournal
Link: http://www.farmersjournal.ie/dairy-markets-futures-market-nervous-ahead-of-this-week-s-gdt-248796
