Global Dairy Trade Results Update – 3/3/20
Executive Summary Dairy product prices continued to decline during the GDT event held Mar 3rd. Highlights from the most recent auction include:
- The GDT Price Index declined 1.2% at the Mar 3rd event, finishing at a 13 month low level. The GDT Price Index finished lower on a YOY basis for the second consecutive event, finishing down 7.9%.
- Declines in prices within the Mar 3rd event were led by butter milk powder, followed by cheddar cheese, skim milk powder, anhydrous milkfat and whole milk powder. Skim milk powder and whole milk powder prices declined to four and 13 month low levels, respectively, throughout the Mar 3rd event. Cheddar cheese prices declined from the nine month high level experienced throughout the previous auction however butter prices rebounded slightly from the previous event.
- Total quantities sold for all products at the Mar 3rd event declined seasonally from the previous event but remained higher on a YOY basis for the fifth consecutive event. Volumes sold for all products within the first auction of March finished 12.1% above last year’s average volumes sold for the month of March and 19.5% above three year average seasonal figures, reaching a six year high seasonal level, overall.