Global Dairy Trade Results Update – 9/1/20
Executive Summary Dairy product prices continued to decline during the GDT event held Sep 1st. Highlights from the most recent auction include:
- The GDT Price Index declined 1.0% at the Sep 1st event, finishing lower for the fourth consecutive auction and reaching a three month low level, overall.
- Declines in prices within the Sep 1st event were led by whole milk powder, followed by butter, anhydrous milkfat and cheddar cheese. Butter and anhydrous milkfat prices each declined to four year low levels throughout the Sep 1st event while cheddar cheese prices declined to a 20 month low level. Whole milk powder prices declined to a two month low level however skim milk powder prices finished higher for the second consecutive event.
- Total quantities sold for all products at the Sep 1st event increased seasonally to an eight month high level but remained lower on a YOY basis for the fourth consecutive auction, finishing down 10.2%.