2nd GDT auction prices in Jan. 2025: +1.4
The second Global Dairy Trade (GDT) auction in Jan. 2025 has offset the downward movement of the previous auction for the coming delivery months with an average of +1.4%. Butterfat is the exception with significant discounts. Auction volumes are falling more sharply due to seasonal factors.
Whole milk powder (VMP) (approx. 50 % auction share) has compensated for the setbacks of the previous auctions with +5 %. The price increases took place in all delivery months of the new year 2025. As always, the dominant influence of the largest buyer, China, has been decisive. The VMP price level is €3,866/t.
Skimmed milk powder (SMP) (approx. 25% share) has almost offset the downward trend of the previous auction with a current +2%. The price increases affect all upcoming delivery dates with a focus on Apr./May-25. At the equivalent of €2,646/t, absolute SMP prices remain close to the mid-range of previous years. The Chicago prices are at €2,956/t and the EEX prices in Leipzig are at €2,550/t.
Pure butterfat prices (approx. 10% share)continued to fall in value by -7.8% on average following some sharp setbacks in the pre-auctions. The leading delivery dates in particular suffered heavy losses.
Normal butter (approx. 8% share) continued its positive trend with +2.2% after strong ups and downs in the previous auctions. The result remains in the high price range. Prices are rising again to €6,770/t. EEX Leipzig is quoted at 7,425 €/t and the Chicago prices are around 6,748 €/t for the Jan. 25 date.
The average auction result (index) remains above the 10-year average.
