- GDT auction in June 2021: on average again -1.3% weaker.
The second June 2021 auction of Global Dairy Trade (GDT) once again had to reduce the price level reached so far by an average of -1.3%. The prices for milk powder with their high market shares were decisive. Only pure butter was able to hold its own at the level of the pre-auction. In line with the usual seasonal development, the handling volumes have remained low. Whole milk powder (VMP) gave up another part of previous surcharges with an average of -1.8%. The December 21st listing suffered a major setback at -7%. In a multi-year comparison, the absolute prices of $ 3,992 / t slide into the midfield. Skimmed milk powder (SMP) has to give up a further part of the gains in previous auctions with -1.7%.Nevertheless, the quotations remain in the high price range of the last 5 years. Poor results were achieved for the delivery dates in July 2021 and December 21. At $ 3,356 / t, the SMP prices are still at a high level compared to the EU ($ 3,170 / t) and the USA ($ 2,824 / t). Butterreinfett almost made up for the setback of the last auction with an average of +0.6%. The month of July in particular stands out with its surcharges of + 4.3%. The average product price remains in the upper price segment at $ 5,687 / t. Normal butter continues its downward trend with further price reductions of -1.7%. At a level of $ 4,612 / t, the absolute butter price has repeatedly to cut back on its soaring soaring in previous months. EEX Leipzig is quoted at $ 4,991 / t and Chicago prices are $ 3,986 / t. Since mid-March 2021, auction prices have no longer been able to reach a higher level. The EU butter prices have had to give way under pressure from international exchange rates.In the southern hemisphere, the milk season is at its seasonal low. The summer highs in deliveries are already over in the EU.
