18.
03.15
07:09

Latest GDT auction in the strong minus - despite smaller quantity

Last GDT auction before the end of the EU rate: 8.8%

The most recent global dairy trade auction ended with strong negative results for all products and all delivery months. Found in the average were - 8.8% compared with the previous auction on March 3.  Despite an again withdrawn bid amount the buyer on the chance of a rising generation seem after the end of the EU quota system to use. In the background, may also the usual seasonal increase in production has been in the northern hemisphere during the early summer months.

The buyer covered up for the necessary backup needs, more did not need it. Against this background, little chance for a price stabilisation passed.

That with more involved than the half strongest bid amount whole milk powder cut with an average -9.6% similar to bad as the two milk fats normal butter and butterfat with - 9.4 or 8.4%. However, the second largest supply quota was not quite as bad skimmed-milk powder with an average of -5.6% .

The delivery months Sept - 2015 were consistently negative price developments. The relativization of the results is however to point out that the price level so far reached almost has approached the 5 - or 10 - year averages. The average value was already exceeded in the case of butter.

For the coming spring / early summer months is to be expected with a usual seasonal decrease in oceanic milk production by about 3 million tonnes of raw milk . However, you would expect a season usual increase in the EU with at least 1.5 million tonnes of. In the United States the milk deliveries vary only slightly in individual seasons due to the feed-oriented generation of.  The seasonal variation in the usual way compensated for the blending of summer winter cream with different consumption patterns. Unsure , however, remains suspended braking of rate in the EU. It will be difficult to separate the effect of the ratio of the seasonal effect.

Crucial for the further development of price, the demand of the Chinese will be in the next few months. Demand weakness can be expected in the oil countries due to the low oil revenues.

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