Global Dairy Trade Results Update – 4/21/20
Executive Summary Dairy product prices declined during the GDT event held Apr 21st. Highlights from the most recent auction include:
- The GDT Price Index declined 4.2% at the Apr 21st event, reaching a 16 month low level. The GDT Price Index finished 16.8% below previous year price levels, declining on YOY basis for the fifth consecutive event.
- Declines in prices within the Apr 21st event were led by anhydrous milkfat, followed by skim milk powder, whole milk powder, butter and rennet casein. Anhydrous milkfat prices declined to a three and a half year low level throughout the Apr 21st event while skim milk powder and whole milk powder prices declined to ten and 15 month low levels, respectively. Cheddar cheese prices increased to a two month high level throughout the Apr 21st event, however, while lactose prices also finished higher.
- Total quantities sold for all products at the Apr 21st event rebounded from the ten month low level experienced throughout the previous event while remaining higher on a YOY basis for the eighth consecutive auction. Volumes sold for all products within the April auctions finished 20.2% above last year’s average volumes sold for the month of April and 5.7% above three year average seasonal figures, reaching a three year high seasonal level, overall.