Global Dairy Trade Results Update – 7/7/20
Executive Summary Dairy product prices continued to increase during the GDT event held Jul 7th. Highlights from the most recent auction include:
- The GDT Price Index increased 8.3% at the Jul 7th event, finishing higher for the fourth consecutive event and reaching a five month high level. The increase in the GDT Price Index was the largest experienced throughout the past three and a half years.
- Increases in prices within the Jul 7th event were widespread across products offered with the exception of anhydrous milkfat and led by whole milk powder. Whole milk powder prices increased to a five month high level throughout the Jul 7th event while skim milk powder prices reached a four month high. Butter prices rebounded off of the three and a half year low level experienced throughout the previous event while cheddar cheese prices continued to rebound from the 16 month low level experienced throughout the first auction of June.
- Total quantities sold for all products at the Jul 7th event increased seasonally from the previous auction while finishing 4.0% higher on a YOY basis. The YOY increase in total quantities sold was the 12th experienced throughout the past 13 auctions.