1st GDT auction prices in Mar. 2025: -0.5
The first Global Dairy Trade (GDT) auction in March 2025 continued the downward trend of the previous auction with an average of -0.5%. For the major products, the range extended from -2.2% for VMP to +2.7% for normal butter. Auction volumes continue to decline due to seasonal factors.
Whole milk powder (VMP) (approx. 50% auction share) continued the downward trend of the previous auction at -2.2%. Once again, the main reason for this was the sharp price reductions for the delivery month of March 25, while the other months recorded somewhat smaller declines. The VMP price level fell to 3,881 €/t.
Skimmed milk powder (SMP) (approx. 25% share) experienced a small upward correction of +0.6% this time following the downward trend in the previous auction. The decisive factor was the premium for March-2025, while the later dates had to accept significant reductions. However, absolute SMP prices remain in the average range of previous years at the equivalent of €2,622 per tonne. The Chicago prices are at 2,614 €/t and the EEX prices in Leipzig are at 2,526 €/t.
Prices for pure butterfat (approx. 10% share)fell again on average by -0.3%. However, the results for the individual delivery dates varied greatly. The range extends from +1.3 % in Mar.-25 to -1.7 % in Apr.-25
Normal butter (approx. 8% share) continued its positive trend with an average increase of +2.7%. Prices are now reaching record levels. Prices continue to rise to €7,241/t. EEX Leipzig is quoted at 7,350 €/t and the Chicago prices are around 5,024 €/t for the March 25 date.
The average auction result (index) remains above the 10-year average.
