GDT auction: average prices with easy plus claims - MMP rates weak With a repeated increase of 1.6% on average of all products and delivery months the youngest could be global dairy trade auction claim for the second time at the level attained. The period of high growth rates is over and done. To be expected in the upcoming summer months with a seasonal increase of the offer in the northern hemisphere. The usual seasonal decline in New Zealand has been less intense rule cases and grass growth. Sales amounting to 22.642 t remains at the relatively low level of past auctions. Mainstay of the auction remains whole milk powder with a share of 50%. The delivery months on average, the product reached a surcharge of + 2.4%. The bandwidth ranged from + 3.2% in May-17 to 0.2% in September 2017. So are the VMP courses almost exactly at the average of the last 5 years. However, the skimmed milk powder prices are weak. With - 0.8% discount although still lightly was the result, but the missing Commandments for may and Oct - delivery as well as the above-average price discount in the Sep. 17 - 7.1% indicate poor demand in the face of abundant inventories. It is not to exclude that in the summer the EU intervention again can enter into force. In the Gegenzuge, butterfat is rather scarce. Given the already achieved top price level is an average premium by + 2.5% notable. The delivery months served however differently. May-17 reached a supplement of + 10.5%, 7.2% more have been approved for the Aug. 17, but for the Sept. 17 appointment, there was a reduction of - 3.9%. The delivery month Oct-2017 was also in this case not be offered. Normal butter , something had to cede from the disproportionate high price allowances in the last auction. With an average of -1.6% thought the correction in the frame. The price discount for may 2017 at 10.8% is to be put into perspective against the backdrop of the prior auction at 24% price premium. It is striking that the two last delivery dates are not been served. In the middle of all products the courses to maintain at the level of the 10-year average. The restraint and weak results in the later delivery dates but indicate that the future price is very limited upwards.
