Tridge summary
In April 2024, GB milk deliveries saw a year-on-year decline of 2.0%, totaling 1,073 million liters, due to excessive rainfall and cooler temperatures impacting grass growth and milk production. The global dairy market experienced a slight decline in February, with the EU, arguably stable, hiding significant market variance, particularly in Ireland. Rabobank forecasts lower output for H1 2024 but anticipates global prices to improve and feed costs to ease. The EU-NZ Free Trade Agreement, set to launch on May 1, 2024, promises improved access for New Zealand products into the EU market. In the UK, milk market values dropped slightly in April, with only butter experiencing a price increase. The Agricultural Price Index exhibited minor movements, providing some stability to key input costs, though output price inflation is still smaller than input costs inflation, which compresses margins.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
GB milk deliveries are estimated to have totalled 1,073 million litres in April 2024 with an average of 35.8 million litres per day. This would mean a decline of 2.0% year on year. Exceptionally wet conditions throughout the Autumn, winter, and spring, teamed with a cooler than average second half of April have held back production with all expectations pointing to a spring flush that is well below average. Until the end of March grass growth according to AHDB’s Forage for Knowledge tool was in line with the 5 year average. However, since then ongoing above average rainfall and cool conditions have seen grass growth well below the seasonal average with the grass growth rate in kg of DM per hectare sitting at 40.3 compared to the 5-year average of 57.7. Grass utilisation will have been a problem for many with the wet precluding much turnout for most, barring those on the lightest of soils. This could cause difficulties right through the season with farmers unable to get on to ...
Source: Ahdb
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