PREVIEW: Fonterra GDT milk auction, futures imply a 2% fall to flat print for whole milk powder prices

Today brings the latest dairy auction. The most recent auction saw the GDT price index rise 0.3% to USD 3,323, while whole milk powder prices fell 1.6% to USD 3,100. 

Futures price somewhere between a 2% fall to flat reading in WMP at the upcoming auction.

Looking forwards CBA posit that if the “poor current weather continues, prices are likely to rise over the coming months. Combined with the global butter shortage, dairy prices could end 2017 on a high.”

Although there is no set time for release, the last auction results were at 15:27BST/10:27ET.

19 Sep 2017 - 10:09- Research Sheet- Source: RANsquawk

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