Australia Gross Domestic Product (QoQ) came in at 0.9%, above expectations (0.8%) in 3Q

Analysts at ANZ noted that the dairy prices improved overnight, with WMP up 5.3% and the GDT-TWI lifting 3.6%. Current market expectations are for a further lift at the second auction in December. The key question is whether this enough – combined with other forward looking indicators – for Fonterra to hold their milk price forecast of $4.60/kg MS?