Global Dairy Trade Results Update – 7/17/18
Executive Summary Dairy product prices declined to a six month low during the GDT event held Jul 17th. Highlights from the most recent auction include:
- The GDT Price Index declined for the ninth time in the past 11 auctions during the Jul 17th event, finishing down 1.7% to a six month low.
- Declines in prices within the Jul 17th event were led by rennet casein, followed by butter, anhydrous milkfat and cheddar cheese. Butter and cheddar cheese prices each declined to six month low levels while anhydrous milkfat prices finished at an 18 month low. Skim milk powder and whole milk powder prices increased throughout the Jul 17th event, however, rebounding from three and six month lows experienced during the previous auction, respectively.
- Total quantities sold for all products at the Jul 17th event declined 4.0% from the six month high experienced during the previous event. Total quantities sold within the July auctions increased seasonally but finished 6.0% below last year’s average volumes sold for the month of July and 15.3% below the previous three year average July quantities sold.