PREVIEW: Fonterra GDT Dairy Auction – futures indicate around a 2% fall in WMP prices

The most recent auction saw the headline GDT price index fall by 0.5% to USD 3,623, while whole milk powder prices rose by 0.3% to USD 3,246.

Futures indicate that WMP prices will slide 2% today. Recent rainfall has continued to ease concerns over falling production following dry weather earlier in the season. In addition, Fonterra has increased WMP offer volumes for this auction and the remainder of the season

Although there is no set time for release, the last auction results on 20th February were released around 14:45GMT.