Global Dairy Trade Results Update – 8/20/19
Executive Summary Dairy product prices declined during the GDT event held Aug 20th. Highlights from the most recent auction include:
- The GDT Price Index declined 0.2% at the Aug 20th event, finishing lower for the sixth time in the past seven events and reaching a 14 auction low overall.
- Declines in prices within the Aug 20th event were led by rennet casein, followed by lactose, anhydrous milkfat, butter and skim milk powder. Butter and anhydrous milkfat prices each declined to eight month low levels throughout the event. Whole milk powder prices increased from the previous event, however, reaching a five auction high, while cheddar cheese prices also increased from the previous auction.
- Total quantities sold for all products at the Aug 20th event declined 1.6% from the 15 auction high experienced during the previous auction but remained higher on a YOY basis for the second consecutive month, finishing up 7.4%. Volumes sold for all products within the August auctions finished 4.9% above last year’s average volumes sold for the month of August, reaching a three year seasonal high level.