Global Dairy Trade Results Update – 4/7/20
Executive Summary Dairy product prices rebounded during the GDT event held Apr 7th. Highlights from the most recent auction include:
- The GDT Price Index increased 1.2% at the Apr 7th event, rebounding from the 14 month low level experienced throughout the previous auction. The GDT Price Index remained lower on a YOY basis for the fourth consecutive event, however, finishing down 12.8%.
- Increases in prices within the Apr 7th event were led by butter, followed by lactose, whole milk powder, anhydrous milkfat and cheddar cheese. Butter prices increased to an eight month high level throughout the Apr 7th event while whole milk powder prices rebounded from the 14 month low level experienced throughout the previous event. Skim milk powder, rennet casein and butter milk powder prices declined from the previous event. Skim milk powder prices reached a seven month low level.
- Total quantities sold for all products at the Apr 7th event declined seasonally from the previous event but remained higher on a YOY basis for the seventh consecutive event. Volumes sold for all products within the first auction of April finished 19.4% above last year’s average volumes sold for the month of April and 4.9% above three year average seasonal figures, reaching a three year high seasonal level, overall.