November 2 GDT auction up 4.3%

At the auctions in early November, the average price index at the global GDT dairy auction continued its rapid growth. The value of the GDT index increased by 4.3%.

This is the maximum growth in one trading session since the beginning of March and the maximum level of the index since the beginning of March. The weighted average indicative price for dairy products was 4207 usd/t. The trading volume (29.9 thousand tons) was 15.5% lower than the same period in 2020, but 7.5% higher compared to trading in mid-October.

The increase in the index was facilitated by the growth of average prices for almost all traded commodity items. The exception was dry buttermilk , the price of which decreased by 3.8% (to 3513 USD/t). At the same time , cheddar became the record holder of price growth , having immediately risen in price by 14.1%, breaking through the psychological barrier of 5000 USD/t and reaching the level of 5058 USD/t, which was the maximum value since the beginning of 2014.

The market 's main commodity, whole MILK powder (WPM), also rose in price, but compared to cheddar, the growth rate was relatively moderate. The weighted average price for SPM increased by 2.7% to 3921 USD/t.

Skimmed milk powder was in second place after cheddar in terms of price growth: the weighted average price increased by 6.6%, to 3627 USD/t (maximum since mid-2014).

Prices for milk fat at the last auction also continued to grow. The weighted average price for anhydrous milk fat increased by 4.2% to 6384 USD/t, reaching its highest level since mid-February 2018 (6458 USD/t).

Butter maintained its growth rate since the previous trading session: growth was 4.7%, up to 5350 USD/t. The price gap between oil and AMF was 1034 USD/t.

An increase in the price at the last auction was also noted for lactose (+1.6%, up to 1272 USD/t).

Compared to the beginning of November 2020, the average price of contracts (in DOLLAR terms) for the supply of SMP remains 33.2% higher, SPM - by 31.4%, butter - by 40.0%, cheddar - by 33.6 %.

PioneerProduct based on materials from globaldairytrade.info and milknews.ru