2 Dec.-18 GDT Auction with an average of +1.7% - Downtrend seems to have stopped.
After months of price drops at the 14-day GDT auctions, the 2 Dec event repeatedly delivers a positive average score. The individual results on the future delivery dates suggest that the end of a price decline has occurred.
The reduction in transshipment volume of 36,181 t , which is repeatedly set at a lower level, indicates that supply volumes are no longer fully on demand.
The results for the individual dairy products and delivery months mostly shows a positive picture.
Vollmilchpulver (VMP) konnte seine bisher erreichten Kurse der kommenden 6 Liefermonate weitgehend behaupten. Lediglich die Mai -19-Lieferungen wurden zu einem deutlich höheren Preis von +1,2 % bewertet.
Magermilchpulver (MMP) legte mit +3,4 % deutlich zu. Überraschend sind die Steigerungen für Apr. und Mai 2019 mit Zuwachsraten von 5,6% und 4,2 % angesichts eines zu erwartenden Milchanlieferungsanstieg auf der Nordhalbkugel. Die MMP-Vorräte üben nicht mehr den hohen Preisdruck zurückliegender Monate aus.
For the second time in a row, butterfat showed a positive result with an average of + 4.0%. The last two months, May and June 2019, were particularly high with surcharges of +7.4% and +10.1%. Thus, the weak results of the pre-auction were ironed out again. The butter prices are again pointing upwards
Normal butter reached the highest price with an average of + 4.9%. Also in this case the delivery months of May and June 2019 stand out with price increases of +7% and +9.5%. The butter prices stand out again from the long-term averages upward.
In both cases, milk deliveries in the northern and southern hemispheres will decline for the next few months due to seasonal factors. An increasing supply is therefore not expected. If demand remains stable, international milk prices will strengthen again, and may even increase somewhat.
