GDT auction with worst result for months: - 10.7%
The recent auction of global dairy trade (New Zealand) mid-July 2015 reached with an average of - 10.7% the worst months result. Thus continues the plummeting of prices for dairy products on an international level started since March 15. Obviously, with slightly declining sales, demand was too weak. Several dates were even no charge due to lack of interest.
For the largest auction volume WMP % were issued only for 3 of the 6 months of delivery by Aug. 15 until Jan. 16 charges between 13% to 14.2. The months of August and September found no interest.
Skimmed-milk powder was a decrease of 10.1% on average. The front dates reached - 10.9% - 13.6%. The Dec. 15 and Jan. 16 months were only half as bad % and - 4.8% with surcharges of-5.6.
Butterfat was not recorded for the first 3 months of delivery; For Nov.-15 deliveries,-15% was achieved, the month of Dec. 15 section always still unfavourable 8.2%. The Jan. 16 date provided the best result of the whole auction - 2.7%.
Normal butter was not listed for 3 months. The remaining delivery reached degrees between-8.9-10.1%.
Average and subtotals are located at the lowest level since the financial crisis of 2009. Thus, expectations of an imminent revival in international demand have been refuted. In particular the missing import volumes from Russia and China make noticeable in the global trade in milk products. The production adjustment was made so far insufficient economic framework. The seasonal offer courses are also not sufficiently been taken back. It will be a difficult road for the second half of 2015, to go back to stabilise at a slightly higher level.
