Global Dairy Trade Event Report
Today’s Global Dairy Trade (GDT) Event auction yielded mostly positive results across commodities and delivery periods. The total volume of products sold was nearly 47 million pounds, down 3 million pounds from the previous auction.
All whole milk powder (WMP) contracts increased for the fourth-consecutive event. Total volume of WMP was up slightly (628,000 pounds) from the previous event to 21 million pounds.
Skim milk powder (SMP) contracts experienced mixed results across delivery periods. Approximately 16 million pounds of SMP was sold, down 1.3 million pounds from the previous event.
Butter volumes purchased were down 708,000 pounds from the previous event to 2.8 million pounds. All butter contracts experienced double-digit increases following recent reports of limited fat supplies in Europe and Oceania heading into the summer. With the exception of the June delivery period, anhydrous milk fat contracts also experienced significant price increases.
-provided courtesy of Dairy Farmers of America