Analysts called the current year successful for the global dairy sector

Cheddar Cheese

Dairy

United States

Market & Price Trends

Published Mar 26, 2024

Tridge summary

According to Dairy Reporter agency citing Rabobank analysts, 2023 is set to be a profitable year for the world's largest milk and dairy product producers, driven by an increase in product prices. While butter and most dairy products in the United States are expected to maintain high prices, cheddar cheese prices might drop due to a surplus. Dairy consumption in Russia has reached its highest in 28 years. Despite challenges like unfavorable weather and low production profitability in some areas, milk production is anticipated to grow in the second half of the year across several major markets, including the United States, China, the European Union, Argentina, Brazil, Australia, and New Zealand.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

This year will be profitable for the world's largest producers of milk and dairy products. The Dairy Reporter agency writes about this with reference to Rabobank analysts. Experts expect that these players can increase profits again after last year's decline by increasing product prices. In particular, prices for butter in the United States and many other types of products will be “sustainably high.” The exception will be cheddar cheese, which will fall in price due to increased supply due to expanded production capacity. However, the organization did not disclose the exact cost of dairy products. Dairy consumption in Russia has reached a record high in 28 years Analysts also expect an increase in milk production in most market players: the United States, as well as China, the European Union, Argentina, Brazil, Australia and New Zealand. According to their calculations, this will happen in the second half of this year, but the expansion of production itself will take some time. At ...

Source: Rosng