Weak start at 1 GDT auction in 2016

First GDT auction 2016: - 1.6%

The global dairy trade auction in the new year began with an average price decrease of - 1.6% across all products and delivery months.  Thus the small upswing of the last session 14 days prior to was again closed.  Recent developments in China with a period of weaker economic activity and a further devaluation of the Chinese currency may have played a role.

However, the results have fallen out quite differently.  First, it is however to determine that the quantity up 3.1% compared to the previous auction failed.

The 4.4% fall in milk powder pricesare crucial for the negative result.  VMP represents more than half of the supply in the auction and China is a major buyer of VMP. In all delivery months are the courses with 0.6% in the Feb.-negative failed 16 to - 6.4% in the Jun-16.

In the case of Magermilchpulver the result at an average rate of 0.8 upheld % before auction limits.  The fluctuation range of surcharges ranging from + 0.4% in the Apr. 16 – 3.6% in Jun 16. Skimmed milk powder prices in all major production areas in the world at a similar low level.

Butterfat did % 2.7 average aggregate score with unusually poorly.  The individual delivery months had quite different results. For the month of Feb. 16 were approx. + 5.2% more applied, while moving the surcharges in the subsequent months in the minus range of 0.4 to - 4.6%.

Normal butter while achieved on average a positive result of + 6.7%, but behind different subtotals. A decline of 19% for the delivery month Feb-16 followed a price increase of + 16.5 for the March 16 deadline. In the following months there were mostly positive price developments in addition to two negative.  

Butter fat is the world not to abundant, especially in the United States. Also in the EU, the accumulated butter stocks are rebuilt.

Total milk powder prices is still considerable need to catch upis the multiannual average prices again to build on. In the case of butter fat, you are moving on the 5.Jahreslinie or even slightly above. Posed by the milk powder dominant influence on prices in the dairy sector, however, determines market activity.  The way to an upward trend to a long-term average level isn't overnight.

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