NZX Dairy Futures traded for the first time today. Ten lots of the October 2010 Global Whole Milk Powder future traded at US$3,525/t. NZX Dairy Futures launched on 8 October.
During the first two days of operation there were up to 30 lots on offer in each of the front seven expiry months, which represented 210 lots total volume on offer with a US$792,000 notional value.
“We're confident that demand for NZX Dairy Futures will continue to build, and we look forward to welcoming additional participants to the market in the near term,” said NZX Head of Markets Fiona Mackenzie.
The NZX Dairy Futures market is an anonymous market and the firms making individual trades are not disclosed.