Global Dairy Trade Results Update – 8/21/18
Executive Summary Dairy product prices declined during the GDT event held Aug 21st. Highlights from the most recent auction include:
- The GDT Price Index declined 3.6% at the Aug 21st event, finishing at an eight month low. The GDT Price Index has declined over ten of the past 13 events through the Aug 21st auction.
- Declines in prices within the Aug 21st event were led by butter, followed by anhydrous milkfat, cheddar cheese, whole milk powder and skim milk powder. Butter and anhydrous milkfat prices declined to 19 and 21 month lows, respectively, while cheddar cheese prices declined to a seven month low and whole milk powder prices declined to an eight month low. Skim milk powder prices remained near recently experienced three month lows throughout the Aug 21st event.
- Total quantities sold for all products at the Aug 21st event declined 6.0% from the eight month high experienced during the previous event while remaining lower on a YOY basis for the 11th time in the past 13 events, finishing down 0.7%.