Global Dairy Trade Results Update – 10/15/19
Executive Summary Dairy product prices increased slightly during the GDT event held Oct 15th. Highlights from the most recent auction include:
- The GDT Price Index increased 0.5% at the Oct 15th event, finishing higher for the third consecutive event and reaching a six auction high, overall.
- Increases in prices within the Oct 15th event were led by rennet casein, followed by skim milk powder and anhydrous milkfat. Skim milk powder prices reached a four and a half year high level throughout the Oct 15th event. Cheddar cheese prices declined to an eight month low level throughout the Oct 15th event, however, while butter prices finished slightly lower and whole milk powder prices finished unchanged.
- Total quantities sold for all products at the Oct 15th event declined slightly from the previous event while remaining 7.7% lower on a YOY basis. Volumes sold for all products within the October auctions 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.