Trading was dominated by trades of skim milk powder (SMP) futures. A total of 999 lots were traded last week, of which 905 lots were SMP Futures contracts. Trading of SMP Futures on the NZX market has been sporatic since this product was launched in October 2011. The 905 lots traded last week was a record weekly volume. Open interest in SMP Futures totally 1470 lots at the end of last week. While open interest in whole milk powder (WMP) and anhydrous milkfat (AMF) Futures contracts stood at 984 lots and 414 lots respectively.
