- GDT auction in May. 2021: weaker on average.
The first of May. The 2021 auction of Global Dairy Trade (GDT) once again had to reduce the price level reached so far by an average of -0.7%. Normal butter experienced for two consecutive .Mal the biggest setback and falls in a 5-year significantly. The volumes handled have turned out to be considerably smaller in line with the usual seasonal development. Whole milk powder (VMP) only reached + 0.7% on average. The month of Aug.-21 increased again with + 2.2% and made up for the losses of the pre-auctions. The November 21 rate with + 1.7% also shows increasing tendencies for the second time in a row. The absolute prices of $ 4,115 / t remain at the top level in a multi-year comparison.Skimmed milk powder (MMP) continues to rise by + 2.0 % on average and has maintained its position in the high price range of the last 5 years. A poor result was only achieved in Nov 2021. At $ 3,433 / t, the SMP prices are still at a high level compared to the EU ($ 3,079 / t) and the USA ($ 2,588 / t). Clarified butter has to be far unrivaled price level can say with -4.2% on average for the umpteenth time not. The discounts can be found in all delivery months. The Nov-2021 turned out badly above average. The average product price drops to $ 5,730 / t, but still remains at the top level. At -12.1%, normal butter suffered considerable discounts. Except for the delivery month Nov.-21st, the deductions were all in the double-digit range. At $ 5,035 / t, the absolute butter price has to accept considerable reductions from its maximum price level. (see grafic). EEX Leipzig is quoted the equivalent of $ 4,937 / t and Chicago prices are $ 3,940 / t. Despite the considerable discounts in the fat area, the average price level still remains in the good average range. In the EU and the USA, the quotations are clearly lagging behind. The milk season is coming to an end in the southern hemisphere. In contrast to this country, milk production will be shut down almost completely. A seasonal increase in delivery is expected in the northern hemisphere.
