Volumes largely as expected for October 20 event
Whole milk powder (WMP) volumes are as previously forecast with a total of 16,750t on offer. This is also identical to the total amount of WMP available at the previous auction.
Skim milk powder (SMP) offerings from NZ are slightly lower than the previous auction and slightly lower than forecast. A total of 6950t of SMP will be offered compared to the 7100t previously forecast. Overall this is a drop of 2.1% and a 5% drop in Contract 2 volumes.
There will be 3100t of butter offered by Fonterra at the October 20 GDT event. This is equivalent to the previous auction and the previous forecast.
Anhydrous milkfat (AMF) offerings are as expected at 3400t, slightly down on the previous auction volume of 3550t.
12 month forecasts
AMF volumes have been reduced for the remainder of the 2015-16 season. Butter volumes have dropped from January 2016 onwards. SMP volumes have been lowered from November to May, but WMP volumes are unchanged.
Fonterra total 12 month offer volumes have been reduced by 1.7% to 707,787t.
Click here for spreadsheet containing historic forecast volumes
