2, Mar.24 GDT auction with -2.8%

GDT auction March 2024 repeats in negative territory The second March 2024 auction of Global Dairy Trade (GDT) continued the price decline of the previous auction with an average of -2.8% . Whole and skimmed milk powder, with consistently high price discounts, play a significant role in this. At 19,655 t, the auction volume continues to fall, as is usual for the season. At -4.2% , whole milk powder (VMP) (around 50% auction share) sent a clear signal for the current downward trend in the global milk market. The price reductions take place in all delivery dates. China, as the main buyer, is holding back. The VMP price level falls below the 5-year average at $3,143/t. Skimmed milk powder (SMP) (around 25%) also continues its price decline from the preliminary auctions at -4.8%. The absolute MMP prices reach $2,517/t and are just above the Chicago quotes of $2,377/t, but below the EEX rates in Leipzig at $2,624/t. Butter fat prices (around 10%) have increased once again with an average of +2.5%. Insbesondere die Liefertermine Juni/Juli 2024 haben dazu beigetragen. Die Aug./Sep.-Termine waren nicht gefragt. Die Relation zu Normalbutter pendelt sich wieder ein.

Normalbutter (rd. Anteil 8 %) hat mit -1,4 % den gemäßigten Preisabstieg fortgesetzt. Mit 6.408 $/t bewegt sich der absolute Butterpreis über dem 5-Jahresmittel. EEX Leipzig liegt umgerechnet bei 6.224 $/t und die Chicagoer Kurse notieren um 5.817 $/t.

Das durchschnittliche Auktionsergebnis (Index) bewegt sich weiter über dem 10-Jahresdurchschnitt.

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