Global Dairy Trade Results Update – 1/21/20
Executive Summary Dairy product prices increased during the GDT event held Jan 21st. Highlights from the most recent auction include:
- The GDT Price Index increased 1.7% at the Jan 21st event, finishing higher for the second consecutive auction. The GDT Price Index reached a six year high seasonal level, finishing higher on a YOY basis for the 14th consecutive event.
- Increases in prices within the Jan 21st event were led by butter, followed by rennet casein, whole milk powder, skim milk powder, cheddar cheese and lactose. Butter prices increased to a six month high level while cheddar cheese prices reached an eight month high. Skim milk powder prices increased to the second highest level experienced throughout the past five years while whole milk powder prices finished higher for the second consecutive event. Anhydrous milkfat prices declined from the previous auction, finishing at a three auction low.
- Total quantities sold for all products at the Jan 21st event increased slightly from the previous event while remaining higher on a YOY basis for the second consecutive event. Volumes sold for all products within the January auctions finished 17.1% above last year’s average volumes sold for the month of January and 32.7% above three year average seasonal figures, reaching a six year high seasonal level, overall.