Global Dairy Trade Results Update – 6/16/20
Executive Summary Dairy product prices continued to increase during the GDT event held Jun 16th. Highlights from the most recent auction include:
- The GDT Price Index increased 1.9% at the Jun 16th event, finishing higher for the third consecutive event.
- Increases in prices within the Jun 16th event were widespread across products offered with the exception of butter, which declined to a three and a half year low level. Whole milk powder and skim milk powder prices each increased to three month high levels throughout the Jun 16th event, while cheddar cheese prices rebounded from the 16 month low level experienced throughout the previous auction.
- Total quantities sold for all products at the Jun 16th event declined 2.5% from the previous auction while finishing 11.7% lower on a YOY basis. The YOY decline in total quantities sold was the first experienced throughout the past 12 auctions.