For whole milk powder (WMP), the April futures contract has increased by US$70/t, as has the June futures contract for anhydrous milkfat. The March 2016 futures contract for skim milk powder has increased by US$60/t.
There has been almost no trade over the last couple of days. There were just 3 trades on Wednesday, with just 135t changing hands. There were no trades yesterday.
However there have been 6 trades so far this morning, all in the April and May futures contracts for WMP. There may be some further trading activity today as Fonterra announced its volumes for the next GlobalDairyTrade event yesterday evening.
