Global Dairy Trade Results Update – 12/17/19
Executive Summary Dairy product prices declined during the GDT event held Dec 17th. Highlights from the most recent auction include:
- The GDT Price Index declined 5.1% at the Dec 17th event, finishing lower for the second consecutive auction. The decline was the largest experienced throughout the past 33 months on a percentage basis.
- Declines in prices within the Dec 17th event were led by whole milk powder, followed by skim milk powder, butter and anhydrous milkfat. Whole milk powder and skim milk powder prices declined from the three and five year high levels experienced throughout the previous auction, respectively, while butter prices declined to a 12 month low level. Cheddar cheese prices increased to a five month high level throughout the Dec 17th event, however, increasing for the third consecutive auction.
- Total quantities sold for all products at the Dec 17th event declined seasonally from the previous auction while remaining lower on a YOY basis for the seventh consecutive event. Volumes sold for all products within the December auctions finished 0.9% below last year’s average volumes sold for the month of December but remained 22.4% above three year average seasonal figures.