The European Union has seen a decrease in the number of dairy cows since 2018, but milk production slightly increased in 2023 and 2024 due to improved yield per animal. The European Commission anticipates a milk production of 154.3 million tons in 2024, leading to an increase in cheese, butter, and skimmed milk powder production, but a decrease in whole milk powder and certain fresh products. Raw cow's milk prices have stabilized at around 46 euro cents per kilo in the first four months of 2024, after fluctuating in the previous years. Despite stable input and producer prices in 2024, data shows that dairy farmers have experienced negative gross margins since the beginning of 2023 due to prices at origin being lower than costs.