- GDT auction in July 2021: on average again -3.6% weaker.
The first July 2021 auction of Global Dairy Trade (GDT) has continued the decline in GDT average prices at -3.6% since mid-March 2021. The courses for skimmed milk powder tipped the balance. Even concentrated butter could not maintain the level of the pre-auction. The volumes handled rose slightly in line with the usual seasonal development. Whole milk powder (VMP) gave up another part of previous surcharges with an average of -3.0%. The December 21st listing suffered another major setback at -6.1%. In a multi-year comparison, the absolute prices of $ 3,864 / t slide into the midfield. Skimmed milk powder (SMP) has to give up a further significant part of the gains in previous auctions with -7.0%. Nevertheless, the quotations are still in the high price range of the last 5 years.Weak results were achieved for the delivery dates in October and December 21. At $ 3,126 / t, the SMP prices have fallen to the level in the EU ($ 3,170 / t) and the USA ($ 2,824 / t). Butterfat has the Vorauktionsergebnisse can not keep up with -0.9% on average. 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 the pressure of the 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.
