GDT: Milk index at lowest level for six years

The global dairy price during the last Fonterra auction fell yesterday to its lowest level for nearly six years. The demand from China and other developing countries after milk powder is still very limited and the prices for butter fall significantly. In the auction, which takes place in the 14-day rhythm, the index yesterday fell by 4.3 points to $2.412 per tonne.
The index fell in six consecutive auctions led by a fall in prices last 3.1% of the milk powder, which now has arrived with $2,309 per tonne on his 6-month low. The price increases have lifted in the first months of the year, thereby reaching only half of the historical price highs of $5.245 per tonne in April 2013.
It is hard to escape the price Valley, analyze the professionals of the Australian and New Zealand Banking Group ANZ. Whole milk powder is the lead product for all dairy products, which are sold in the auction of Fonterra. Butter prices fell by 10%, skimmed-milk powder fell by 1.3%. While the prices for almost all products fell and the number of bidders with 642 was relatively small, offering increased. The GTD index fell since early 2014 to 38%.
The continued fall in prices prompted Fonterra, the world's largest milk processors, the prospect of the ex-farm price for the may withdrawal to NZ to reduce$ 4.40 / kg. That would be the lowest level for eight years. Originally, the company had been a redemption price of NZ season rising $5.25 for the end of May to end of prospect. The Managing Director of the co-operative of Theo Spierings had been last week very reticent about a possible improvement in the situation.

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