Global Dairy Trade Results Update – 5/19/20
Executive Summary Dairy product prices rebounded slightly during the GDT event held May 19th. Highlights from the most recent auction include:
- The GDT Price Index increased 1.0% at the May 19th event, rebounding from the 16 month low level experienced throughout the previous auction. The increase experienced within the GDT Price Index was just the second in the past eight auctions.
- Increases in prices within the May 19th event were led by lactose, followed by skim milk powder and anhydrous milkfat. Skim milk powder prices rebounded from the ten month low level experienced throughout the previous event while anhydrous milkfat prices rebounded from a three and a half year low level. Whole milk powder and butter prices declined slightly throughout the May 19th event, however, each reaching 17 month low levels, while cheddar cheese prices declined to a five month low level.
- Total quantities sold for all products at the May 19th event remained higher on a YOY basis for the tenth consecutive event, finishing up 8.2%.