Global Dairy Trade Results Update – 8/18/20
Executive Summary Dairy product prices continued to decline during the GDT event held Aug 18th. Highlights from the most recent auction include:
- The GDT Price Index declined 1.7% at the Aug 18th event, finishing lower for the third consecutive auction.
- Declines in prices within the Aug 18th event were led by cheddar cheese, while whole milk powder and butter prices also declined from the previous month levels. Butter prices declined to a four year low level throughout the Aug 18th event while cheddar cheese prices declined to a 19 month low level. Skim milk powder prices rebounded slightly from the previous auction throughout the Aug 18th event.
- Total quantities sold for all products at the Aug 18th event remained lower on a YOY basis for the third consecutive auction, finishing down 8.9%. Volumes sold for all products within the August auctions reached an 11 year low seasonal level.