Thursday, October 18, 2018
 Whole Milk Powder Volumes Increase On GDT  

Fonterra’s final volumes for the March 4 auction are similar to forecast, but with the notable change in contract two (Con2) whole milk powder (WMP). Fonterra has added 620 tons (extra 18%) to the previous forecast volume for Con2. The volume of WMP on offer remains smaller than the Con2 volume offered at the previous auction.

 

All other contract periods remained the same as forecast for WMP, and all are lower or equal to the volume offered at the previous auction. That has meant that although Fonterra is offering WMP in contract one, which it did not do at the previous auction, the overall volume is 200t less than the total offering at the previous auction.


Anhydrous milkfat (AMF) to be offered at the March 4 auction has increased 50t in contract two and 50t in contract three compared to what was forecast. Skim milk powder (SMP) and butter prices are unchanged from forecasts.


12 month forecasts
Fonterra has added to its forecast volumes in March, April and May for AMF, butter, SMP and WMP. The volume added has meant that the 12 month forecasts for AMF, butter and WMP have increase 2%, while the SMP 12 month forecast has increased 1%. This the rise in WMP in particular, which is the commodity traded in the greatest volume on GDT, implies that Fonterra may not be expecting to collect more milk in later part of the 2014-15 season than previously forecast.


Source: Dairy Trader
 


Posted on Thursday, February 26, 2015 (Archive on Thursday, March 05, 2015)
Posted by bholcomb@adpi.org  Contributed by bholcomb@adpi.org
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