Global Dairy Trade Results Update – 10/1/19
Executive Summary Dairy product prices increased slightly during the GDT event held Oct 1st. Highlights from the most recent auction include:
- The GDT Price Index increased 0.2% at the Oct 1st event, finishing higher for the second consecutive event and reaching a five auction high, overall.
- Increases in prices within the Oct 1st event were led by butter milk powder, followed by skim milk powder, lactose and rennet casein. Skim milk powder prices reached a four and a half year high level throughout the Oct 1st event. Cheddar cheese prices declined to a seven month low level throughout the Oct 1st event, however, while whole milk powder and butter prices finished slightly lower.
- Total quantities sold for all products at the Oct 1st event increased 3.7% from the previous event but remained 7.8% lower on a YOY basis. Volumes sold for all products within the first auction of October finished 7.7% below last year’s average volumes sold for the month of October but remained 4.1% above three year average seasonal figures.