Global Dairy Trade Results Update – 9/17/19
Executive Summary Dairy product prices strengthened during the GDT event held Sep 17th. Highlights from the most recent auction include:
- The GDT Price Index increased 2.0% at the Sep 17th event, finishing higher for just the second time in the past nine events and reaching a four auction high, overall.
- Increases in prices within the Sep 17th event were widespread with the exception of rennet casein and led by lactose, followed by skim milk powder, butter, whole milk powder, anhydrous milkfat and cheddar cheese. Skim milk powder prices reached a two and a half year high level throughout the Sep 17th event while whole milk powder prices reached a seven auction high and anhydrous milkfat and butter prices each rebounded from the eight month low levels experienced throughout the previous auction.
- Total quantities sold for all products at the Sep 17th event declined 5.9% from the 19 auction high experienced during the previous event while finishing 4.6% lower on a YOY basis. Volumes sold for all products within the September auctions finished 1.2% below last year’s average volumes sold for the month of September but remained 6.3% above three year average seasonal figures.