Global Dairy Trade Results Update – 10/20/20
Executive Summary Dairy product prices continued to strengthen during the GDT event held Oct 20th. Highlights from the most recent auction include:
- The GDT Price Index increased 0.4% at the Oct 20th event, finishing higher for the third consecutive event.
- Increases in prices within the Oct 20th event were led by butter, followed by cheddar cheese and whole milk powder. Butter and cheddar cheese prices each reached three month high levels throughout the Oct 20th event. Skim milk powder prices declined for the second consecutive event, while anhydrous milkfat and lactose prices also declined throughout the most recent auction.
- Total quantities sold for all products at the Oct 20th event remained lower on a YOY basis for the seventh consecutive auction, finishing down 10.5%.