On Wednesday, next auction of milk

welcome,

Auctions milk powder in New Zealand are a very important event from the perspective of the New Zealand dollar what we have seen repeatedly. Prices of milk powder are of great importance for the economy in New Zealand. Dairy products, mainly milk powder makes up 21% of total exports of New Zealand, in general, most of the exports of the country is focused on products derived from agriculture and forestry. At the end of 2013 and the first half of 2014 years strong demand for the goods from China has caused price increases. Fonterra also significantly increased the first forecasts, then the guaranteed purchase price. For 2014 amounts to 8.3 NZD per kg, while the current forecast (already repeatedly lowered) at the turn of 2014/2015 returned to the level of 5.3 NZD / kg.

At the last auction price index of milk powder fell by -7.3%. If at Wednesday's auction price drop has reached a similar size, it is very possible that it would be a factor to further sell the New Zealand currency. In turn, higher prices can positively surprise investors, and this may lead to a growth rebound and continuation of the current correction.

regards,

oscarjp

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