- GDT auction in Aug. 2021: start of an upward phase?
In the Aug. 2, 2021 auction of Global Dairy Trade (GDT), prices were increased by an average of + 0.3% . There is hope of an upward trend. Whole milk powder , however, remains weak. The remaining products in upward mode. Butter again with heavy surcharges. The throughput volumes are smaller, but within the usual seasonal framework. Whole milk powder (VMP) yielded repeatedly with an average of -1.5%. However, there were only strong setbacks for the delivery month of Sep. The absolute prices of $ 3,552 / t are now only in the mid-range for several years. Skimmed milk powder (MMP) shows further recovery tendencies with +1.1%. The month of Nov (+ 2.2%) made a considerable contribution to the positive result. The quotations are moving back towards the high price range of the last 5 years.SMP prices remain at 3052 $ / t on the EEX exchange rates (2922 $ / t) and the US (2,756 $ / t. Butterfat shows with +1, 5% on average repeated slight upward trend. Only the month of September was rated again lower. The average product price rises to $ 5,791 / t in the upper price segment. With average price surcharges of + 4%, normal butter once again sets a strong accent The absolute butter price remains at a high price level of 4,771 $ / t. EEX Leipzig is quoted at 4,621 $ / t and the Chicago exchange rate is 3,880 $ / t. The auction prices, which have been falling since mid-March 2021, are showing a clear upward trend for almost all products With the exception of VMP, which replaced butter fats. EU and US prices are also seeing further improvements. The new dairy season has begun in New Zealand, culminating in October 21 expected.
