This week’s GDT auction, which takes place on Tuesday, will be closely watched by markets. The previous two GDT auctions have been very positive for market sentiment, with average prices lifting almost 7% and 13% respectively.
The lift has been primarily driven by the increasing price of WMP, with average prices rising close to 30% since the end of July. Much of this increase has been attributed to a tightened global supply of WMP stocks just as Chinese buyers have stepped back into the market with renewed demand.
However, Chinese buying is seasonal and buyers time their moves into …
Source: FarmersJournall
Link: http://www.farmersjournal.ie/dairy-futures-market-will-the-gdt-rise-continue-this-week-223689