- GDT auction in Sep. 2021: further upward trends: +1%
In the 2nd September 2021 auction of Global Dairy Trade (GDT), prices were increased by an average of + 1% . The expected upward movement continues, somewhat weaker. The surcharges for whole milk powder are leading. Normal butter has to give up some of the previous surcharges. The handling volumes remain at a comparatively low level. Larger sales are expected in the coming months. Whole milk powder (VMP) again achieved a significant price increase. In almost all delivery months, the price increases were above the 2% mark. The absolute prices of $ 3,777 / t are in the mid-range for several years. China's imports are picking up speed. Skimmed milk powder (SMP) is again stressed by the strong extras in the Vorauktion with 0.9% the rising price level.The quotations are still at the high price level of the last 5 years. The absolute MMP prices at $ 3,302 / t remain above the EEX exchange rates ($ 3,080 / t) and the USA ($ 2,844 / t). Butterfat prices have on average stabilized at the increased level. Only the dates in Nov./Dec. 2021 are slightly shorter. The average product price remains in the upper price segment of the last 5 years at $ 5,962 / t. Normal butter must deliver -1.9% half the average price increases from the Vorauktion again. The absolute butter price remains in the range of slightly above-average prices of $ 4,857 / t. EEX Leipzig is quoted at $ 4,847 / t and the Chicago rates are at $ 3,946 / t. The upward trend in international prices for dairy products continues. Further improvements can also be seen in EU and US prices. In the oceanic countries, milk delivery is approaching its seasonal peak in October 2021, while milk production in the EU-27 is tending to decline.
