Global Dairy Trade Results Update – 8/4/20
Executive Summary Dairy product prices declined during the GDT event held Aug 4th. Highlights from the most recent auction include:
- The GDT Price Index declined 5.1% at the Aug 4th event, finishing lower for the second consecutive auction. The decline in the GDT Price Index was the largest experienced throughout the past seven months.
- Declines in prices within the Aug 4th event were led by whole milk powder, while skim milk powder, butter and cheddar cheese prices also declined from the previous month levels. Butter prices declined to a three and a half year low level throughout the Aug 4th event while cheddar cheese and skim milk powder prices each declined to two month low levels.
- Total quantities sold for all products at the Aug 4th event increased seasonally from the previous auction but remained 6.5% lower on a YOY basis. Volumes sold for all products within the first auction of August declined to a three year low seasonal level.