- GDT auction in Nov. 2021: +1.9% on average
In the Nov. 2, 2021 auction of Global Dairy Trade (GDT), the prices were again increased by +1.9% compared to the pre-auction. The upward trend continues in all sectors. The greatest price increases are achieved with normal butter. The throughput volumes continue to rise due to seasonal factors, but remain below the previous year's values. Whole milk powder (VMP) continued the price increase of the pre-auctions with +1.9 % . Further price increases were achieved in all dates. The absolute prices rise to $ 3,987 / t. The course rises to the upper midfield. China's imports are crucial. Skimmed milk powder (SMP) increased again by +1.4% despite already high surcharges in the pre-auctions. The prices are at the high price level of the last 5 years. The absolute MMP prices at $ 3,676 / t remain above the EEX exchange rates ($ 3,294 / t) and the USA ($ 2,844 / t).Pure butter prices improved again by an average of +1.3%. All forward rates remained in positive territory. The average product price remains in the upper price segment of the last 5 years at $ 6,472 / t. Normalbutter continued the upward trend of the pre-auctions again with a considerable +3.5% . The absolute butter price remains in the above-average price range of $ 5,534 / t. EEX Leipzig is quoted at $ 5,375 / t and the Chicago rates are $ 3,946 / t. 10-year price index of the GDT auctions The upward trend in international prices for dairy products, which began on Aug-21, continues. This is also underlined by the FAO milk price index . Further improvements can also be seen in EU and US prices.
