GDT auction 07. Dec. 2020: + 2.8% significant recovery in all products The first Jan 2020 auction of the Global Dairy Trade (GDT) got off to a good start in the new year with positive results in almost all product areas. At 33,050 t, sales fell short of the pre-auctions. Skimmed milk powder and normal butter were the convincing winners. Whole milk powder (VMP) was able to assert itself again after the unstable results in the pre-auctions. Positive results were achieved in all delivery dates. Since China is the main buyer, it can be assumed that demand from this country will pick up again. Protein replacement for missing pork may also play a role. Skimmed milk powder (MMP) almost fully compensated for the pre-auction's setback. The MMP quotes continue to rise. The long phase of low prices has been overcome. The need to catch up for Feb. 20 has contributed to the double-digit price increase. The remaining months remained in the high plus range. Support comes from the increasing VMP results.Pure butter has picked up again with +2.3%. Hold. The previous dates in particular made up for the setbacks from the pre-auctions. Compared to the 5-year average, the courses continue to be in the upper midfield. Normal butter reached + 3.7% the rebound in the upper average range. Only the delivery month of June 2020 was somewhat weaker at +1.6%. Butter prices are also rising again in the upper midfield. The current auction results make up for the unfavorable results of the pre-Christmas auction . A fundamental positive trend appears to be continuing in the New Year.
