Global Dairy Trade Results Update – 3/17/20
Executive Summary Dairy product prices continued to decline during the GDT event held Mar 17th. Highlights from the most recent auction include:
- The GDT Price Index declined 3.9% at the Mar 17th event, finishing at a 14 month low level. The GDT Price Index finished lower on a YOY basis for the third consecutive event, finishing down 13.1%.
- Declines in prices within the Mar 17th event were led by skim milk powder, followed by whole milk powder. Skim milk powder prices declined to a six month low level throughout the Mar 17th event while whole milk powder prices reached a 14 month low level. Anhydrous milkfat, butter and cheddar cheese prices increased from the previous event.
- Total quantities sold for all products at the Mar 17th event declined seasonally from the previous event but remained higher on a YOY basis for the sixth consecutive event. Volumes sold for all products within the March auctions finished 9.1% above last year’s average volumes sold for the month of March and 16.3% above three year average seasonal figures, reaching a six year high seasonal level, overall.