First Mar-24 GDT auction with -23%

  1. GDT auction in March 2024: -2.3%

The first March 2024 auction of Global Dairy Trade (GDT) broke off the price increase of the previous auctions with an average of -2.3%. Whole and skimmed milk powder make a significant contribution to this, sometimes with significant price discounts. At 21,235 t, the auction volume continues to decline as is usual for the season. Whole milk powder (VMP) (around 50% auction share) has fallen back to the level at the beginning of February 24 at -2.8%. The price reductions take place in all delivery dates. China, as the main buyer, is holding back. However, the VMP price level of $3,286/t is still within the 5-year average. Skimmed milk powder (SMP) (around 25%) gives back all of the price gains from the previous auctions at -5.2%. The absolute MMP prices reach $2,640/t and are just above the Chicago quotes of $2,623/t, but below the EEX rates in Leipzig at $2,700/t. Butter fat prices (around 10%) have increased again with an average of +1.4%. The early delivery dates in particular contributed to this.  Normalbutter erreicht. Die Relation zu Normalbutter ist wieder hergestellt.

Normalbutter (rd. Anteil 8 %) hat die vorangegangenen hohen Steigerungen mit -1,0 % nicht halten können. Mit 6.461 $/t bewegt sich der absolute Butterpreis über dem 5-Jahresmittel. EEX Leipzig liegt umgerechnet bei 6.413 $/t und die Chicagoer Kurse notieren um 6.217 $/t.

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

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