Global Dairy Trade Results Update – 5/1/18
Executive Summary Dairy product prices declined during the GDT event held May 1st. Highlights from the most recent auction include:
- The GDT Price Index declined for the fifth time in the past six auctions during the May 1st event, finishing down 1.1%.
- Declines in prices within the May 1st event were led by rennet casein, followed by anhydrous milkfat and whole milk powder. Anhydrous milkfat prices finished at the second lowest level experienced throughout the past 12 months while whole milk powder prices finished at a three auction low. Cheddar cheese prices increased to a six month high throughout the event while skim milk powder prices finished at a four auction high. Butter prices finished unchanged from the previous event, remaining near six month high levels.
- Total quantities sold for all products at the May 1st event increased 1.3% from the previous auction, finishing at a five week high. Total quantities sold within the first auction of May remained 11.1% below last year’s average volumes sold for the month of May and 14.3% below the previous three year average May quantities sold, however.