Global Dairy Trade Results Update – 1/7/20
Executive Summary Dairy product prices increased during the GDT event held Jan 7th. Highlights from the most recent auction include:
- The GDT Price Index increased 2.8% at the Jan 7th event, finishing higher for the first time in the past three auctions. The GDT Price Index reached a six year high seasonal level, finishing higher on a YOY basis for the 13th consecutive event.
- Increases in prices within the Jan 7th event were widespread across all products offered. Skim milk powder prices rebounded to the second highest level experienced throughout the past five years while cheddar cheese prices increased to a 15 auction high level. Butter and anhydrous milkfat prices each reached three auction high levels while whole milk powder prices rebounded from the seven auction low experienced throughout the previous event.
- Total quantities sold for all products at the Jan 7th event declined seasonally from the previous auction but finished higher on a YOY basis for the first time in the past eight auctions. Volumes sold for all products within the first auction of January finished 16.9% above last year’s average volumes sold for the month of January and 32.5% above three year average seasonal figures.