GDT-Internet auction from May 20, 2014: new discount
The international Internet auction global dairy trade closed on Tuesday with a renewed back setter of the average dairy product prices by - 1.8%. Since the beginning of the year, are the prices in a tailspin, seem now but slow to run in the direction of soil formation. The month of June could again bring pressure a seasonal delivery high in the northern hemisphere in the market; on the other hand the delivery time begins in New Zealand and Australia again in July.
The two products have pulled down the auction result significantly butter with MMP - 3.8% - 3.5%. Butterfat, however, noted in the increase of 1.9%. The heavyweight full-cream milk powder graduated from - 1.1%.
The quantity is down considerably smaller, because the front month was as good as not occupied. The demand was however also not assertive.
for the delivery months July to November 2014, the rates show a relatively stable course. This allows the presumption that more price corrections will move only on a small scale.
So far different prices for butter and milk powder between Europe and Oceania approach more each other.
