Whole milk powder futures tumbled, while those in butter extended their decline, as investors reacted to a drop in values at GlobalDairyTrade which had defied concerns over New Zealand weather.
Not exact matches
The price of
whole milk powder, New Zealand's key commodity export, may rise for the fourth straight auction on the GlobalDairyTrade platform next week on the expectation
future European
milk production will be crimped by environmental curbs.
«It was unusual to see regular grade
whole milk powder selling at a premium to the higher specification product but we have seen a lot of strength in the
futures market recently and it is the regular grade product this market settles against,» Ms Kilsby said.