Decile tables for the monthly average price for Global Dairy Trade results, along with futures values from NZX, EEX & CME.
The tables display nominal prices relevant to each decile range, which can be used to get an understanding of how high/low the current price is in relation to all historic prices. A decile table measures how often, historically, prices have fallen below (or below) a particular pricing point. It gives a brief snapshot of whether a market has more upside or downside and how large this may be.
For example, if a price is at its 40% decile, this means that 40% of the time prices have been below that value and 60% of prices higher. Similarly, a 90% decile means that 90% of the time, prices have been lower and higher just 10% of the time.
At the bottom of each table is the current months average price and the percentage decile ranking for that price.