Global Dairy Trade Results Update – 9/15/20
Executive Summary Dairy product prices strengthened during the GDT event held Sep 15th. Highlights from the most recent auction include:
- The GDT Price Index increased 3.6% at the Sep 15th event, finishing higher for the first time in the past five auctions.
- Increases in prices within the Sep 15th event were led by skim milk powder, followed by cheddar cheese, whole milk powder and anhydrous milkfat. Skim milk powder prices increased to a seven month high level while cheddar cheese prices rebounded from the 20 month low level experienced throughout the previous event. Butter prices declined to a four year low level throughout the Sep 15th event.
- Total quantities sold for all products at the Sep 15th event remained lower on a YOY basis for the fifth consecutive auction, finishing down 9.5%.