The settlement price of Butter and Skim Milk Powder (SMP) at latest auction of Global Dairy Trade (GDT) and settlement price at CME and EEX are compared to see the gap across the market.

Also, the comparison of the price movement over the last auction or last week settlement price has been done to see the direction of change.

Table 1: Butter price (US$ /MT)

The butter rate was higher at EEX followed by CME and GDT. The price difference for the month of October 2020 shows there is significant difference of US$ 700 per MT between EEX and GDT.

Except CME, the price direction was in south in both EEX and GDT but decline was as high as about 10% at GDT in recent auction as compared to last auction.

Table 2: SMP price (US$ /MT)

The SMP price was highest at GDT followed by EEX and CME. For the month of October 2020, the price of SMP was reported as high as US$ 3,015/MT. This was higher by US$ 600-700/MT as compared to SMP settlement price at CME.

The SMP price direction is facing north at all the three places as compared to last auction or last week settlement price.