GDT auction from April 15, 2015: - 3.6% - is still little price-robust power layer
With a discount of - 3.6% at the previous auction on 02 April 2015 is still very faulty the current supply situation on the global dairy sector for increased offer amounts by rd. + 10, 5% in the recent auction of the GDT. This is the envelope volume already at a relatively low level.
The small price recovery in the Feb / March 15 appointments a trough will be restored after now, as it has been since end of 2014 already. Even if the Milchsaison wants, to its end in New Zealand and Australia, the world's available supply in the northern hemisphere, in the United States and the European Union sufficiently large seems to be sufficiently to be able to supply the restrained demand . In particular China's lingering behind the previous year's import behavior suggests to beech.
Skimmed-milk powder in the average of all delivery dates of May - Oct. 15 - suffered the largest setback of the price 15 -7.8% . For this, especially the front months Jun. 15 to Aug. 15 were responsible, while the rear dates Sept and Oct. 15 with a significant waiting 5.5%.
Normal butter showed up with a drop in average prices from -6, 8% also from the weak side. The range stretched % in July to - 16.6% in the June 15 and - 14.9% in the delivery months but from 5, in the date of Oct..
In contrast, butterfat consistently positive results over all months achieved by + 1.2% + 2.7%.
With the largest sales volume by more than half of the auction bid, the price reductions for whole milk powder prevailed in the overall result. The delivery months on average, a price discount was by -4.3% achieved. Extended the range of - 3% in June-15 to - 5.1% in the Aug. 15.
The overall result with a price situation, which is located on the fallen Nov./Dez.-14-Kurse average. The receding ocean milk production is caught again by the rising levels in the United States and the EU. Significantly the expectation might have played a role however, that in the next 3 months with a global milk increase in volumes on the northern hemisphere is expected to potential buyers of future futures it does more than that to acquire essential. The supply Outlook for the foreseeable future for the time being classified as cheap for the demand side.
To what extent this assessment under the warning a 70% PB likely EL Nino weather phenomenon can be maintain, will still prove need. Usually applies to such weather Oceania with prolonged dry periods. Particularly affected the local basic oriented feed dairy. This, it should be pointed out that New Zealand worldwide is at the forefront of exports of dairy products. A production decline is coincident with a decline in exports to 100%.
