1st GDT auction prices in Jan. 2025: -1.4
The first Global Dairy Trade (GDT) auction in Jan. 2025 largely continued the downward trend of the previous auction for the coming delivery months with an average of -1.4%. Normal butter is an exception with significant gains. Auction volumes continue to fall for seasonal reasons.
Whole milk powder (VMP) (approx. 50 % auction share) again experienced a setback of -2.1 %. The price reductions took place in all delivery months of the new year 2025. As always, the dominant influence of the largest buyer, China, was decisive. The VMP price level is 3,648 €/t.
Skimmed milk powder (SMP) (approx. 25% share) has continued the downward trend of the two previous auctions with a current -2.2%. The discounts affect all upcoming delivery dates with a focus on the later months. At the equivalent of € 2,572 per tonne, absolute SMP prices are still close to the average of previous years. The Chicago prices are at €2,956/t and the EEX prices in Leipzig are at €2,581/t.
Pure butterfat prices (approx. 10% share)experienced a moderate decline of -1.6% on average following the sharp setbacks in the pre-auction. The last delivery dates in particular suffered heavy losses.
Normal butter (approx. 8% share) showed a positive development of +2.6% after the strong ups and downs of the previous auctions. The result remains in the high price range, but the potential for growth appears to have been exhausted. Prices are rising again to €6,536/t. EEX Leipzig is quoted at 7,400 €/t and the Chicago prices are around 5,586 €/t for the Jan. 25 date.
The average auction result (index) remains above the 10-year average.
