GDT auction of 04 Nov. 2014: stabilization rate attached, bright spots for 2015

GDT-November 04, 2011 auction: negative result, but sweeping stabilization

The average auction results ended with - 0.4%. With a price increase of + 3.6% at the previous auction hopes to increase two weeks ago are therefore first deferred over the longer term. A positive assessment is to be seen in that the plummeting prices since the spring 2014 now to the repeated mass interrupted, a stabilization has occurred and to identify bright spots in some areas. .

Negative price effects came from the two components of milk fat. Butterfat lost - 1.6% and normal butter - 4.1% compared with the previous auction. The New Zealand dairy Fonterra - only provider - consistently reached prices between 1.3 - 2.1% in the months of Jan-April. The month of May-15 landed in the weak positive range from + 0.2%.

Normal butter remained in all delivery dates with 2,6% to - 6.2% on the negative side of the price development. Sole provider was Fonterra.

Also Magermilchpulver cut at 1.2% in the negative area holds, but given the wide range in a modest frame. However, the French company euro serum and the US dairy O'Lakes not part of the offer game were. During the initial months of Jan. still in slightly negative territory by March 2015 concluded, surprised May 2015 delivery date with an increase of 6% and a positive signal for the coming year.

With an increase of + reached 1.6% milk powder (VMP) hope supplying income, because WMP has a strong weight in the milk price auction accounting for approximately two-thirds. Especially the strong positive statements of delivery months March and April 2015 + 7.5% and + 10.4% are one reason for slight optimism. Would have been no Dec. 14 month - 5.4%, the total might have significantly better.

Given the world's strong supply quantities and the weakening demand, especially from China indicate the repeated auction results in the small amount of fluctuation of plus and minus zero a strong consolidation phase. The rear delivery April/may make even positive developments in Vista.

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