Global Dairy Trade Results Update – 7/21/20
Executive Summary Dairy product prices declined during the GDT event held Jul 21st. Highlights from the most recent auction include:
- The GDT Price Index declined 0.7% at the Jul 21st event, finishing lower for the first time in the past five auctions.
- Declines in prices within the Jul 21st event were led by butter, followed by anhydrous milkfat, lactose and skim milk powder. Butter and anhydrous milkfat prices each declined to three and a half year low levels throughout the Jul 21st event while skim milk powder prices declined from the four month high level experienced throughout the previous event. Whole milk powder prices increased to a six month high level throughout the Jul 21st event, however, while cheddar cheese prices continued to rebound from the 16 month low level experienced throughout the first auction of June.
- Total quantities sold for all products at the Jul 21st event declined contraseasonally from the previous auction while finishing 4.0% lower on a YOY basis. Total volumes sold for all products within the July auctions declined to an 11 year seasonal low level, finishing slightly below the previous year volumes.