- GDT auction in February 2021: + 3% on average; Whole milk powder + 4.3%
The second Global Dairy Trade (GDT) auction in February 2021 continues the uninterrupted upward trend of the previous auctions since December 2020 with an average of + 3.0% . Whole milk powder and normal butter were the driving forces. The handling volumes take over the Vorauktionen seasonally further. Whole milk powder (VMP) once again placed a strong emphasis with an average of +4.3% . In almost all delivery dates with the exception of June 21, the surcharges reached the order of magnitude of over 4%. The absolute prices of $ 3,615 / t are still above the multi-year average. Skimmed milk powder (MMP) was just able to match the result of the pre-auction. An average of +0.3% was achieved. The previous months performed quite well with positive premiums.The later delivery dates had to accept discounts. At $ 3,207 / t, however, the SMP prices are still at a high level compared to the EU ($ 2,735 / t) and the USA ($ 2,543 / t). Butterreinfett , on the other hand, was able to maintain the already high price surcharges of the pre-auctions with a further plus of 1.3% on average. The month of April-2021 brought it to + 2.2%. Butterfat is extremely scarce in Asia. The average product price increased again to $ 5,527 / t and is thus at the top level. Normal butter again achieved premiums of + 2.0% on average . The delivery month of March brought the best surcharges with +3.2. The absolute price reached the category of maximum prices at $ 5,129 / t. EEX Leipzig is quoted the equivalent of $ 4,107 / t and Chicago prices are $ 2,943 / t. The last auction results with repeatedly strong price markups indicate that dairy products are in short supply in international trade.The availability of dairy products is limited, especially in Asia. In the EU and the USA, the quotations are clearly lagging behind. Experience has shown that this situation does not last long due to the competition and the courses are catching up. However, the comparatively high euro exchange rate is a stumbling block in the export business.
