New Zealand WMP futures have climbed 3% this week on the back of another GDT rise.
Last Tuesday’s Global Dairy Trade (GDT) event saw a third consecutive rise for milk product prices.
With the price index increasing by 3.1%, to an average price of $3,139, this is the first time three consecutively-positive events have been recorded since last December.
With GDT prices gathering momentum, futures prices have also followed trend. Whole milk powder (WMP) futures have climbed 3% in the last two weeks – even without three days of trading over the long Easter weekend.
At the GDT in New Zealand, the price index for whole milk power (WMP) increased by 3.5% with an average WMP price.
Source: Irish Farmers Journal
