Global Dairy Trade Results Update – 9/3/19
Executive Summary Dairy product prices continued to decline during the GDT event held Sep 3rd. Highlights from the most recent auction include:
- The GDT Price Index declined 0.4% at the Sep 3rd event, finishing lower for the seventh time in the past eight events and reaching a 15 auction low, overall.
- Declines in prices within the Sep 3rd event were led by anhydrous milkfat, followed by lactose, cheddar cheese and whole milk powder, while butter prices finished unchanged from the previous event. Anhydrous milkfat and butter prices each finished at eight month low levels throughout the latest auction. The declines more than offset increases in skim milk powder, butter milk powder and rennet casein prices.
- Total quantities sold for all products at the Sep 3rd event increased seasonally by 15.3% from the previous auction, reaching a 19 auction high. Volumes sold for all products within the first auction of September finished 1.8% above last year’s average volumes sold for the month of September, reaching a five year seasonal high level.