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9 Apr 2020 22:50
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  •   Home > News > Business

    The futures market is predicting milk powder prices to drop in response to the coronavirus outbreak

    The futures market is predicting milk powder prices to drop in response to the coronavirus outbreak


    The deadly virus has thrown financial markets into reverse after a strong 2019.

    ASB senior rural economist Nathan Penny says tonight's Global Dairy Trade auctions will show exactly how milk powder will be affected.

    But he says the market's pointing to a five to 10 percent drop in prices.

    He says dairy markets are nervous about the potential price drop - because China has the biggest dairy market in the world.

    © 2020 Newstalk ZB, NZCity


     Other Business News
     09 Apr: Wellington city councillors have thrown out the idea of a rates freeze -- but payment deferrals will still be allowed
     09 Apr: Liquidators have been appointed for a Christchurch-based investment company - that's being investigated by the Serious Fraud Office
     09 Apr: Spending on eating out and accommodation plunged more than a third in March, after the outbreak of Covid 19
     09 Apr: A Christchurch-based cryptocurrency exchange that suffered a devastating breach, will have to try to pay off its customers
     09 Apr: Not too many hiccups - just yet - to our trade exports due to covid-19
     08 Apr: Wellington cheese and Ice cream brand Zany Zeus may have changed ownership, but consumers can still look forward to their favourite treats
     08 Apr: A Christchurch bread company is losing millions ... because it is not an essential service
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