Global Dairy Trade Results Update – 11/19/19
Executive Summary Dairy product prices continued to increase during the GDT event held Nov 19th. Highlights from the most recent auction include:
- The GDT Price Index increased 1.7% at the Nov 19th event, finishing higher for the fifth consecutive event and reaching a 12 auction high, overall.
- Increases in prices within the Nov 19th event were led by rennet casein, followed by skim milk powder, cheddar cheese, whole milk powder and lactose. Skim milk powder prices reached a five year high level throughout the Nov 19th event while whole milk powder prices increased to a 35 month high level. Butter prices declined to a five auction low level throughout the Nov 19th event, however.
- Total quantities sold for all products at the Nov 19th event declined 1.2% from the previous auction while remaining lower on a YOY basis for the fifth consecutive event. Volumes sold for all products within the November auctions finished 10.2% below last year’s average volumes sold for the month of November but remained 11.0% above three year average seasonal figures.