Global Dairy Trade Results Update – 11/3/20
Executive Summary Dairy product prices declined during the GDT event held Nov 3rd. Highlights from the most recent auction include:
- The GDT Price Index declined 2.0% at the Nov 3rd event, finishing lower for the first time in the past four auctions.
- Declines in prices within the Nov 3rd event were led by skim milk powder, followed by anhydrous milkfat, whole milk powder and cheddar cheese. Whole milk powder and skim milk powder prices each declined to two month low levels. Butter prices rebounded to a six month high level throughout the Nov 3rd event, however, while butter milk powder prices also increased throughout the most recent auction.
- Total quantities sold for all products at the Nov 3rd event remained lower on a YOY basis for the eighth consecutive auction, finishing down 8.4%.