First GDT auction in May 2020 ended with moderate discounts of -0.8% points The May 1, 2020 auction of the Global Dairy Trade (GDT) ended with an average of - 0.8% . In view of the current Coronavirus faults , the result can be categorized as tolerable. While the powdered milk prices were able to hold their own, the butter prices fell noticeably. At 16,442 t, sales remained significantly below the average. Whole milk powder (VMP) was able to maintain its current level of $ 2,745 / t after the strong price setbacks of the pre-auctions with an average of + 0.1%. Between the next 5 months of delivery there were little differences except for June with a surcharge of 1.2%. Skimmed milk powder (MMP) also had an average increase of + 0.1%. However, the month of June fell from the rest of the delivery months with a sharp decrease of -5.1%. The MMP prices, at the equivalent of € 2,197 / t, are still higher than in the EU.Butterfat has in Vorauktion again have to accept a price reduction of -2.4% after the discount of -7.0%. In particular, the delivery month of July fell particularly sharply at -6.4%. At $ 3,973 / t , only the lower midfield is reached. Plain butter has once again lost price levels with sharp cuts of - 5.8% on average. The range is from -3.9 to -7.2%. With a price of the equivalent of $ 3,580 / t , the result falls below the quotations in the EU and the USA. The auction results are to be seen against the background of the market and price turmoil as a result of the COVID pandemic . The expectations were not particularly high. The low handling volume is also linked to the decline in seasonal milk deliveries in New Zealand and Australia, which is particularly strong this year due to the drought.In contrast, milk deliveries in the northern hemisphere increase significantly in the early summer months.
