Global Dairy Trade Results Update – 5/5/20
Executive Summary Dairy product prices continued to decline during the GDT event held May 5th. Highlights from the most recent auction include:
- The GDT Price Index declined 0.8% at the May 5th event, reaching a 16 month low level. The decline experienced within the GDT Price Index was the sixth experienced throughout the past seven auctions.
- Declines in prices within the May 5th event were led by butter milk powder, followed by cheddar cheese, butter, rennet casein and anhydrous milkfat. Cheddar cheese and butter prices declined to three and 17 month low levels, respectively, throughout the May 5th event while anhydrous milkfat prices declined to a three and a half year low level. Whole milk powder and skim milk powder prices each increased slightly throughout the May 5th event.
- Total quantities sold for all products at the May 5th event declined seasonally to an 11 month low level but remained higher on a YOY basis for the ninth consecutive event, finishing up 6.9%.