Global Dairy Trade Results Update – 11/5/19
Executive Summary Dairy product prices continued to increase during the GDT event held Nov 5th. Highlights from the most recent auction include:
- The GDT Price Index increased 3.7% at the Nov 5th event, finishing higher for the fourth consecutive event and reaching an 11 auction high, overall.
- Increases in prices within the Nov 5th event were led by skim milk powder, followed by butter milk powder, rennet casein, whole milk powder, anhydrous milkfat and butter. Skim milk powder prices reached a four and a half year high level throughout the Nov 5th event while whole milk powder prices increased to a six month high level. Cheddar cheese prices declined to a nine month low level throughout the Nov 5th event, however.
- Total quantities sold for all products at the Nov 5th event declined slightly from the previous event while finishing 8.8% lower on a YOY basis. Volumes sold for all products within the first auction of November finished 9.4% below last year’s average volumes sold for the month of November but remained 12.0% above three year average seasonal figures.