- GDT auction in Apr. 2022: -1.0% price increase stopped again.
The Apr 1, 2022 Global Dairy Trade (GDT) auction delivered a second setback in average auction results, with only skimmed milk powder realizing a premium. The trading volumes decrease considerably due to seasonal factors. Whole milk powder (VMP) (50% market share) lost an average of another 1.5% to the pre-auction. However, the month Sep-22 is striking with an unusual surcharge of 11%. The price declines otherwise took place in all delivery months. The absolute prices decrease to $4,532/t, but remain at the high price level of the last 10 years. Skimmed milk powder (SMP) (auction share 25%) continues the price increases of +1.0% in recent times. The listings continue to climb in the highest price range of the last 5 years. Except for Aug.-22, the quotations remain in positive territory. The absolute MMP prices reach $4,598/t and range above the EEX prices ($4,138/t) andthe US ($3,836/t). Clarified butter prices (share 10%) achieved the weakest result of the auction with an average of -2.5% . Only the month Sep -22 stood out with +5.1% surcharge, there was a need to catch up. The average product price falls to $6,908/t but still remains above average. Normal butter (share 8%) has to give back part of the surcharges in the pre-auctions. The front dates have dropped sharply with - 2.5% . Only the month of Aug.22 delivered a significant surcharge. The absolute butter price falls back to $6,891/t but still remains within the high price range of the last 5 years. EEX Leipzig is quoted at the equivalent of $6,891/t and the Chicago rates are at $6,305/t.
