GDT Auction April 16, 2019 Remains Plus The results of the biweekly Global Dairy Trade (GDT) auctions have been consistently in the plus range since December of last year. This time, however, only a modest +0.5% was achieved for pre-auction. But the dairy market is facing the seasonal supply high in the northern hemisphere. The comparatively small auction volumes of only 16,166 t contributed to the positive result. However, the full milk powder price of the pre-auction could again not be maintained at -0.7%. The demand, especially from China, was not big enough. The results of the early delivery months were still quite moderate, but the Sep. 19 result significantly lowered the average values. The background to this is provided by the seasonal New Zealand offer high during this period with expected high supply quantities. The skimmed milk powder prices (SMP) show renewed resistance to falling prices, albeit at a low level. The back delivery month contributed to a significant weakening of the result. Also in this case, the expectations of seasonally increasing offerings of New Zealand in autumn play a role.Butter is scarce worldwide and is expected to remain for a while. The repeated auction surcharges of an average of 3.5% for butterfat and 4.2% for regular butter indicate it. Butterfruet prices again reach the highest price levels of recent years. In particular, the front dates covered by + 7.3% to just 6.8%, well normal butter has already risen in the Voraktion by about 5.8%. In this auction a further +4.2% was added. on. Average butter prices are already at the peak level of recent years. Milk prices are kept high mainly by the high price of fat, while the protein value component slows down a larger price increase.
