Milk prices on deepest level since August 2009

The demand of large importers such as China and Russia will continue, even though the losses in milk powder expire not more so strong as in the last few months. The price index of the global dairy trade (GDT) fell yesterday in his 14 day auction by 3.1% and thus fell in its seventh successive session to its lowest level since August 2009.
Yesterday's auction trade volumes fell again, because the majority of the offers from New Zealand, where the production is significantly restricted. Some market participants believe in better prices, as soon as Chinese processors go back later in the year on the market. The rise is limited but this increases that the Michpulverproduktion once begins in the southern hemisphere for the new Weisesaison.
The GDT index is now 50% below the level of early 2014. The last decline was led by powdered milk, whereas prices for lab cheese, butter, buttermilk powder and cheese is slightly improved. The lead product Vollmichpulver yesterday was-0.1% virtually stable, but with $2,327 to less than half the price since its historic high of $5.245 in April 2013.
The progressive decline of global milk prices forcing Fonterra, the world's largest manufacturer of dairy products, to reduce its price to NZ$ 5.25 / kg under the production costs of most farmers. The New Zealand dairy cooperative Fonterra, which is part of 10,500 members, controlled almost one-third of the global trade in milk and milk products.

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