Australia cheese production forecast to rise in 2024

Australia is forecast to increase cheese production by 5% to 445,000 tons in 2024, continuing the industry-wide trend of milk processors funnelling the larger milk pool toward cheese and away from other processed products, according to a recent US Department of Agriculture (USDA) Global Foreign Agricultural Service (FAS) dairy market report. Over the past 12 months, prices for cheese were more resilient relative to other dairy commodities, declining at half the rate of skim milk powder and whey and less than butter. In a change from prior years’ cheddar cheese production fell 3%, while all cheese production increased 6% in 2023. This may indicate a shift toward production of specialised cheeses ...