Milk Price III

Buford T. Justice XIX

GDT down 1.9%.

Butter down a lot and skim down barely. Seems to be fairly well balanced for now anyway.

Mooooo

Only 20% of fonterra product sold on the platform now

boggerman1

Buford T. Justice V wrote: »

GDT down 1.9%.

Butter down a lot and skim down barely. Seems to be fairly well balanced for now anyway.

Time to go out and buy that mandatory generator to keep milk flowing 😉

whelan2

boggerman1 wrote: »

Time to go out and buy that mandatory generator to keep milk flowing 😉

Ah you'll be thankful to me someday

wrangler

whelan2 wrote: »

Ah you'll be thankful to me someday

This guy has his genny ordered.....must be on an ego trip

https://www.independent.ie/business/farming/dairy/dairy-farm-profiles/storm-ali-taught-this-dairy-farmer-a-powerful-lesson-37376411.html

alps

Prices for spot 25tBSC taking a pummelling this week, prices are down as much as 20p/kg from last week! Meantime Fonterra has revised its farm gate milk price for 2018/19 down to NZ$6.25 to NZ$6.50 per kgMS which equates to 22.4 ppl to 23.3ppl based on our liquid standard litre.

Keepgrowing

alps wrote: »

Prices for spot 25tBSC taking a pummelling this week, prices are down as much as 20p/kg from last week! Meantime Fonterra has revised its farm gate milk price for 2018/19 down to NZ$6.25 to NZ$6.50 per kgMS which equates to 22.4 ppl to 23.3ppl based on our liquid standard litre.

Butter lost €900/tonne in 36 hrs. We’re in for a bumpy ride for the next few months.

whelan2

Keepgrowing wrote: »

Butter lost €900/tonne in 36 hrs. We’re in for a bumpy ride for the next few months.

Thank god for liquid milk contracts

K.G.

Keepgrowing wrote: »

Butter lost €900/tonne in 36 hrs. We’re in for a bumpy ride for the next few months.

Its the next auction that counts-if it dosent respond get sticky alright

mahoney_j

K.G. wrote: »

Its the next auction that counts-if it dosent respond get sticky alright

Wonder why there is such big difference beteween GDT traded butter and European butter ,also much smaller amounts are now traded on that auction than before .in this country look at west cork coops 3 cent a liter ahead of nearly everyone else and from what I gather they can and should be paying a 37 base but have been reined in .in Europe freidlsnd paying 39 base (I think for October /November milk.and we don’t even know what we’re getting for September yet ......
A rocky road ahead definetly

jaymla627

mahoney_j wrote: »

Wonder why there is such big difference beteween GDT traded butter and European butter ,also much smaller amounts are now traded on that auction than before .in this country look at west cork coops 3 cent a liter ahead of nearly everyone else and from what I gather they can and should be paying a 37 base but have been reined in .in Europe freidlsnd paying 39 base (I think for October /November milk.and we don’t even know what we’re getting for September yet ......
A rocky road ahead definetly

2000 dollar export tarrif on all imported butter into eu, is the reason....

mahoney_j

jaymla627 wrote: »

2000 dollar export tarrif on all imported butter into eu, is the reason....

But only very small quantity of GDT traded butter enters Europe .....

jaymla627

mahoney_j wrote: »

But only very small quantity of GDT traded butter enters Europe .....

Tariff makes it uneconomical, Friesland campaina price is 37 cent at 4.41bf/3.47pr also, solids adjusted probably around 33 cent in Irish terms, think as we might the co-ops are royally screwing us at the minute re current milk price, maybe out 1-2 cent of European price.....
Spring flush next year could be leaving a may/June price sub 27 cent if butter tanks below 4000 euro a ton and powders don’t recover, Brit-exit looming in the background is another potential grenade

mf240

I think in the short term it would be reasonable to expect the creamerys to maintain price as they didn't pass on the full potential price all summer. (that's not a sarcastic comment it's a genuine observation) long term though who knows.

mahoney_j

mf240 wrote: »

I think in the short term it would be reasonable to expect the creamerys to maintain price as they didn't pass on the full potential price all summer. (that's not a sarcastic comment it's a genuine observation) long term though who knows.

We should all be on 34 base minimum from September to March as is

cute geoge

Kerry were offering 33c/litre fixed price which i did not take considering oil prices ,grain prices and fert prices have increased by 40% +,I taught milk would follow .
How more wrong could i be!!!

Mooooo

Fonterra have a house to get in order themselves as well, only 20% of there product is on the gdt platform and they had losses near 200 million with a lot of it due issues they have outside of milk price. I agree with mf240, esp as we're being rode on meal price as well. Afaik freisland campina have that base price kinda set monthly but at year end there is a top depending on coop profits as well

Buford T. Justice XIX

cute geoge wrote: »

Kerry were offering 33c/litre fixed price which i did not take considering oil prices ,grain prices and fert prices have increased by 40% +,I taught milk would follow .
How more wrong could i be!!!

The last multi year one was 31c @3.6/3.3 I thought?
Kerry are offering short term fixed price contracts through the app for higher prices.

Last one was one year at 32.4c iirc.

It might be worth looking into for the next one.

mahoney_j

Buford T. Justice V wrote: »

The last multi year one was 31c @3.6/3.3 I thought?
Kerry are offering short term fixed price contracts through the app for higher prices.

Last one was one year at 32.4c iirc.

It might be worth looking into for the next one.

Fixed price schemes circa 30.5 to 32 I’d be taking whatever I can get in each scheme

alps

Here's a link to European Butter futures..

https://www.eex.com/en/market-data/agricultural-commodities/dairy-products/butter-futures#!/2018/09/26

These Kerry fixed prices are futures. I just can't get anyone to explain how they work. From what I understand, no milk is actually moved..

Buford, any of you guys get a run down into the exact detail of how there schemes work?

Buford T. Justice XIX

alps wrote: »

Here's a link to European Butter futures..

https://www.eex.com/en/market-data/agricultural-commodities/dairy-products/butter-futures#!/2018/09/26

These Kerry fixed prices are futures. I just can't get anyone to explain how they work. From what I understand, no milk is actually moved..

Buford, any of you guys get a run down into the exact detail of how there schemes work?

I only know how it operates from our side. The offer of say 32c@3.6/3.3 for 12 months is open for 24 hours. You signal on the app how much you want to sign up for and you get a proportion of your request if it's oversubscribed.


I'd no interest so I didn't attend the meetings on it tbh, as I've a good portion fixed atm.

Mooooo

I've nothing fixed here at the minute. Over the previous 3 years I'm prob not up or down much either way, must check it out

Timmaay

Mooooo wrote: »

I've nothing fixed here at the minute. Over the previous 3 years I'm prob not up or down much either way, must check it out

Same, has made fook all different in the long run I'd say, you'll lose or win a c/l alot faster inside the gate or from the weather.

Keepgrowing

mahoney_j wrote: »

But only very small quantity of GDT traded butter enters Europe .....

2000 tonne sold into EU in September

Keepgrowing

cute geoge wrote: »

Kerry were offering 33c/litre fixed price which i did not take considering oil prices ,grain prices and fert prices have increased by 40% +,I taught milk would follow .
How more wrong could i be!!!

You may be correct yet. September/October are traditionally tricky months market wise. Buyers standing back so fall may not be massive and may not happen alas I think October will see a recalibration

whelan2

Glanbia stay the same at 32cpl. Any word on lakelands

Buford T. Justice XIX

whelan2 wrote: »

Glanbia stay the same at 32cpl. Any word on lakelands

Lakeland held I think?

I'll give a rummage around soon.

whelan2

Buford T. Justice V wrote: »

Lakeland held I think?

I'll give a rummage around soon.

I looked it up there stayed the same at 32.78 and with a lactose bonus the base price is 33.06

Buford T. Justice XIX

Kerry hold at 32c

Gawddawggonnit

33.25 + vat for 3.2pr and 3.8bf until end of the year. Happy enough.