- GDT auction in Jan 2021: + 4.8% on average; Concentrated butter + 17.2%
The second Jan 2021 auction of Global Dairy Trade (GDT) continues the positive upward trend in Dec 2020 with an average of + 4.8% . away. In all sectors, surcharges were achieved with a special focus on concentrated butter with unusual increases of over 17% on average. The handling volumes over the Vorauktionen take seasonal factors from. Whole milk powder (VMP) was again rated significantly higher with an average of +2.2% . In almost all delivery dates the surcharges reached the order of magnitude of 2%; for June 2021 even 4.2%. The absolute prices of $ 3,380 / t are still above the multi-year average.Skimmed milk powder (SMP) also achieved a significant increase of + 7.0 % on average in the prices that had already risen in the pre-auction. The month of February 2021 achieved premiums of 7.8% and the last two months of May and July even a remarkable 7.9 and 8.5% respectively. At $ 3,243 / t, the SMP prices are still at a high level compared to the EU ($ 2,738 / t) and the USA ($ 2,519 / t). Pure butter has once again trumped the already increasing tendency of the pre-auctions with an average increase of 17.2% . The month of April to 2021 even brought it to + 19.7%. Butterfat is extremely scarce in Asia. The average product price jumped sharply to $ 5,398 / t. According to the already above-average increases in Vorauktionen normal butter scored again spreads of + 4.6% on average. The February date even reached + 6.7%. In the remaining delivery months, surcharges of over 4% were consistently exceeded.The absolute price is the equivalent of $ 4,735 / t and continues to rise into the upper midfield. EEX Leipzig is quoted the equivalent of $ 4,114 / t and Chicago prices are $ 3,175 / t. The last auction results with repeatedly strong price mark-ups indicate that dairy products are in short supply in international trade. The price increases can be observed in all 5 delivery months of 2021. The availability of dairy products is limited, especially in Asia. In the EU and the USA, the quotations are clearly lagging behind. Experience has shown that this situation does not last long due to the competition and the courses are catching up.
