Looking at this auction versus the first auction of the month. WMP offered in the last auction were 22,950 tonnes. In this auction Fonterra is offering 19700 tonnes, down 14%. In SMP, volumes offered by Fonterra are identical with the last auction – a total of 7330 tonnes will be sold. In AMF, there will be a 15% reduction in volume offered with product stripped across all contracts.
OMF NZ Futures Market Report – July 14, 2014
The dairy futures remain quiet in anticipation of the GDT auction tomorrow night. Trading on Friday was very light and quotes remain wide. In regards to the upcoming auction, volumes sold by Fonterra will be in line with the volumes that were last forecasted in WMP and SMP. In regards to AMF, volumes offered will be slightly less than forecasted.
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