New Zealand Dairy Farmers to Get Their Own Futures Market
New Zealand dairy farmers will soon have their own futures market to hedge seasonal milk prices. Hedging will begin May 27, with options available at a later date.
The program is similar to a program once offered by Fonterra, the large Kiwi processing co-op, but less complex. The contracts will be offered by NZX , which is a “a licensed market operator and regulator of securities and derivatives markets and provider of trading, post-trade and data services for securities and derivatives, as well as the provider of a central securities depository,” according to its website.
Informational meetings on the new dairy futures and options will be held in late June. Read more here.