- GDT Auction in Jun. 2022: -1.3%
The second June 2022 auction of Global Dairy Trade (GDT) had to give up the average increase of the previous auction. Whole milk powder and butterfat noticeably compensated for skimmed milk powder and normal butter. The auction quantities remain seasonally low. Whole milk powder (roughly 50% auction share) was not quite able to maintain the average level achieved with consistently weaker results at the pre-auction. Absolute prices decrease to $4,125/t but still remain above the multi-year average. Skimmed milk powder (SMP) (share 25%) was able to slightly improve the result of the pre-auction with +1%. In particular, the delivery date Sep. and Oct 2022 contributed. The listings remain in the high price range of the last 5 years. The absolute MMP prices reach $4,276/t and are below the EEX prices ($4,414/t) or above the Chicago quotations ($4,095/t).Butterfat courses (share 10%) have had to relinquish all of the gains from the pre-auction. With a price reduction of -4.7%, the auction result was significantly reduced. The median product price falls to $5,913/t and remains in the high range of the last 5 years. Normal butter (share 8%) has increased again with +5.6%. Prices were increased in all delivery months with little difference. The absolute butter price rises again to $6,213/t, remaining in the upper middle range of the last 5 years. EEX Leipzig is quoted at the equivalent of $7,905/t and the Chicago prices are at a rising $6,525/t.
