date:Aug 19, 2015
New Zealand whole milk powder futures are pointing to the first gain in GlobalDairyTrade auction prices since February after Fonterra Cooperative Group Ltd., the worlds biggest dairy exporter, cut the volume it will offer.
August futures traded at $1,560 a metric ton Tuesday in Wellington, up 7.6 percent from a low of $1,450 following the previous auction on Aug. 4, NZX Ltd. data show. Contracts from September to May are also trading higher than two weeks ago ahead of the next auction later tod