Second GDT auction in June 2020 improved the average result of the pre-auction. The second June 2020 auction of the Global Dairy Trade (GDT) improved the pre-auction result with an increase of +1.9 % on average. However, the forward prices of the individual products show differences. At 21,410 t, sales remain stable at the seasonal low level. Whole milk powder (VMP) again achieved an improvement of +2.2% on average. The Aug appointment brought a plus of 4.5%. But the September appointment was negative at -1.7%. China's purchasing behavior is decisive for the auction results. However, the price of € 2,504 / t remains below average. Skimmed milk powder (MMP) shows strong increases again after the short breather in the pre-auction. Almost throughout all delivery dates, surcharges of around 3% were achieved. out. However, the MMP prices, at the equivalent of € 2,309 / t, are significantly higher than in the EU.The availability of goods in South Asia is much scarcer than in the northern hemisphere. At + 0.8% on average, pure butter was only able to continue the previous stabilization tendencies to a limited extent. But at least positive results were achieved in all delivery dates. At € 3,567 / t , the product remains in the lower middle range. Regular butter loses ground again with an average result of -1.0%. Only the months of Aug and Dec brought slightly positive prices; the rest had to accept price reductions throughout. The price of the equivalent of € 3,183 / t is almost the same as that at EEX Leibzig. The US butter prices are significantly higher. Against the background of the Covid pandemic, the auction results are in an astonishingly stable framework. With the economy slowing, reluctance to buy was expected. The seasonal low handling volume underlines the limited supply situation of the oceanic countries for the Asian region.In the large production areas in the northern hemisphere, difficulties with sales and prices can be observed, which only slowly calm down again.
