In the last week, WMP futures have gained almost 6% in price after strong volumes were traded for February and March 2016 contracts.
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The indications coming from the futures market suggest Tuesday’s GDT auction may be positive, with another rise in the benchmark dairy index.
Whole milk powder (WMP) futures traded on the NZX derivatives market, the New Zealand-based exchange, have continued their rally over the last week, pointing to an increase at the next GDT auction.
In the last week, WMP futures have gained almost 6% in price after strong volumes were traded for February and March 2016 contracts. Since this time last month, WMP futures have rallied by more than 27%.
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At the last GDT auction held on 1 December, the price for WMP increased by 5.3% to $2,260/t. The ally in WMP futures prices over the last two weeks suggests there could be another rise in the GDT index at this week’s auction. WMP is the key commodity traded on the GDT auction and a significant driver of the index performance, accounting for more than half the product sold.
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The indications coming from the futures market suggest Tuesday’s GDT auction may be positive, with another rise in the benchmark dairy index.
Whole milk powder (WMP) futures traded on the NZX derivatives market, the New Zealand-based exchange, have continued their rally over the last week, pointing to an increase at the next GDT auction.
In the last week, WMP futures have gained almost 6% in price after strong volumes were traded for February and March 2016 contracts. Since this time last month, WMP futures have rallied by more than 27%.
At the last GDT auction held on 1 December, the price for WMP increased by 5.3% to $2,260/t. The ally in WMP futures prices over the last two weeks suggests there could be another rise in the GDT index at this week’s auction. WMP is the key commodity traded on the GDT auction and a significant driver of the index performance, accounting for more than half the product sold.
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