Global Dairy Trade Results Update – 12/3/19
Executive Summary Dairy product prices declined slightly during the GDT event held Dec 3rd. Highlights from the most recent auction include:
- The GDT Price Index declined 0.5% at the Dec 3rd event, finishing lower for the first time in the past six auctions.
- Declines in prices within the Dec 3rd event were led by anhydrous milkfat, followed by butter. Anhydrous milkfat prices reached a 12 month low level throughout the Dec 3rd event while butter prices finished at an 11 month low. Skim milk powder prices reached a five year high level throughout the Dec 3rd event, however, finishing higher for the seventh consecutive auction, while whole milk powder prices increased to a three year high level. Cheddar cheese prices increased to a five auction high throughout the Dec 3rd event.
- Total quantities sold for all products at the Dec 3rd event declined seasonally from the previous auction while remaining lower on a YOY basis for the sixth consecutive event. Volumes sold for all products within the first auction of December finished 0.2% below last year’s average volumes sold for the month of December but remained 23.2% above three year average seasonal figures.