Friday, July 8, 2022

Mixed results for GlobalDairyTrade

The July 2 GlobalDairyTrade auction brought mixed results.

The GDT-TWI™ firmed by 0.7%. US$4,643/t was the average price achieved for the 38,890 tonnes of product sold.  

Anhydrous milkfat (AMF) sold at an average price of US$4645/tonne with prices easing for the nearby contracts and firming in the later contracts. Regular 210kg drums of AMF fetched US$5065/t for September shipments.

Butter prices eased back by 5.7% with Fonterra product trading at US$3680 – $3745/t for September to November deliveries. DairyAmerica's inaugural butter offering fetched US$3660/t for August delivery.

Cheddar prices following the general global market trend down losing 3.7% to trade at an average price of US$4395/t.

Rennet Casein made the biggest gain at the auction, with prices increasing by 7.9% to an average price of US$10,259/t.

Skim milk powder (SMP) prices jumped up by  3.1% to trade at an average price of US$4441/t. The biggest gains in percentage terms were achieved in the later deliver periods.  Fonterra's SMP once again traded at a premium to offerings from other companies. Fonterra's September deliveries of Medium Heat SMP reached US$4755/t, up from US$4,585/t from the previous auction.  SMP offered by both DairyAmerica and Arla achieved slightly higher prices than at the previous auction with prices ranging from US$4,000 – $4185/t.  Meanwhile SMP offered by Amul was priced slightly lower than the previous auction at US$3390 – $3410/t.

Whole milk powder (WMP) price movements were mixed with the net result being a 0.1% increase in prices. The pricing gap between suppliers closed somewhat with Amul achieving better prices for their WMP. Amul's WMP for August and September delivery was priced at US$4265/t and US$4210/t respectively. Fonterra's offerings for the nearby delivery month was priced firm at over US$5300/t.  The forward price curve for WMP flattened considerably at prices eased for September and October deliveries and firmed in the later delivery periods.  

 

Aug

Sep

Oct

Nov

Dec

Jan

 

AMF

n/a

5135

5046

4408

4370

4725

4645

BMP

n/a

4575

4580

4710

n/a

n/a

4610

BUTTER

3660

3720

3681

3745

n/a

n/a

3707

CHEDDAR

n/a

n/a

4526

4328

n/a

n/a

4395

LACTOSE

n/a

n/a

n/a

n/a

n/a

n/a

n/a

MPC

n/a

n/a

n/a

n/a

n/a

n/a

n/a

REN CAS

n/a

10751

10411

9612

n/a

n/a

10259

SMP

3875

4459

4670

4492

4513

n/a

4441

WMP

5287

4777

4642

4645

4731

4755

4757

gDT-TWI™

1489

 

 

 

 

 

 

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