Second GDT auction in October 2020: + 0.4% on average; Strong demand for normal butter The second Global Dairy Trade (GDT) auction in October 2020 achieved an average of +0.4% on the positive results achieved so far. Once again, normal butter provided an above-average price boost. With 34,648 t the handling volumes are easily reverted to Vorauktion. Whole milk powder (VMP) was able to maintain the increased pre-auction results with an average of +0.3% . The last two delivery months Febr. Mar. 2021 achieved +1 or 1.3% for strong consolidation in the new year. The absolute prices are above the multi-year average. Skimmed milk powder (SMP) suffered another price setback with an average of -0.2% . The decisive factor was the discount of -10.2% in the month of November . 2020, which canceled the pre-auction surcharges again.However, the months in the new year were positive. At the converted $ 2,851 / t, the SMP prices are still at a high level compared to the EU ($ 2,542 / t) and the USA ($ 2,336 / t). Butterfett has taken a step back with -0.5% on average. Almost all delivery months could not maintain the strongly increased results of the pre-auction. The average product price of $ 4,110 / t is still in the good midfield. Normal butter has increased with repeated impact of + 3.3% average for Vorauktion. The month of Dec-20 achieved the highest surcharge of + 4.7%. The absolute price is converted to $ 3,678 / t . The latest auction results confirm the previous observation of a largely stable price development in the international milk market. The signs of a favorable development in the New Year are confirmed.
