GDT auction by 1 July 2014: back in the minus range
The price recovery in the dairy Center June 2014 was short-lived. The D urchschnittsergebnis the latest GDT auction with -4.9% connects to the negative series of the last 12 auctions.
However, the bid amount compared to the 35% larger before auction has failed. More available provided equal to 55% for whole milk powder. The quantities of butter were also almost 55% of the last auction. Offer volume and the structure of supply were significantly involved in the result.
The biggest reductions had to normal butter - take 13%. All delivery months of Sep. until Dec 2014 tees had to accept up to 15%. Only the Aug 14-date reached a modest growth of 3.3%.
But even the moderate range of butterfat completed exceptionally bad % 7.4. The price reductions increased by Sept. 14 with the dates of Jan 15 - 5.4%-10.5%. the butter pure fat deals came only from the New Zealand FONTERRA.
Was also at the Vollmilchpulve r FONTERRA of sole provider. The average result of - 5.4% by the individual delivery months of - 7.8% in the Aug. 14 to - 3.3% in the Dec. 14 came about. Obviously, the receptiveness for a such a high bid amount was not available.
Obviously, supply and demand for skim milk powder matched better. 0, 9% average result sprinkled in the delivery months only between 0.1% to - 2.3%. The company Amul, Arla, dairy America, euro serum and Fonterra were involved.
Cheddar cheese was offered only for 3 months. The courses ranged between + 1, 1% in Aug-14 and - 4.9% for the Nov. Delivery. the average is calculated to - 2.9%.
Overall, the milk price index still above the multi-annual average moves.
For the upcoming auctions offering is likely not more so strong to be due to the "winter break" the dry months of June and July 2014 in New Zealand. Thus, a price reduction could be connected. However, the large production areas in EU-28 and United States milk production is still on the rise.
Significantly but also the demand of China's going to be. The not-so-high economic growth and the rising domestic production import behavior could put a damper.
The US futures prices for milk products show little price decline, but more clearly falling out at the beginning of the new year until the turn of the year. A cyclic milk prices for 2015 is expected in the United States. That he's coming is clear how strong he is, remains open.
