Global milk production will remain at the level of 2023

Published 2024년 10월 21일

Tridge summary

The global dairy market is experiencing a delicate balance between supply and demand, with stable or slightly decreasing milk production expected, particularly in Europe due to adverse weather and high production costs. While cow productivity is improving, it is insufficient to counteract herd reductions. The US is seeing stabilization in cow numbers, and New Zealand is reporting record milk volumes with modest growth. Global demand and prices remain volatile, with the GDT index up 31% year-on-year but only slightly above average. China's weak demand and low local milk prices are causing reduced cow numbers and production, and an anti-subsidy investigation into EU imports may redirect China's dairy imports, though major trade flow changes are not expected.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the short term, global demand and supply for dairy products will be in a precarious balance. It is likely that world milk production will remain at last year's level or will slightly decrease, particularly in Europe. Such a forecast was announced in Rural Bank, the Association of Milk Producers reported. Key European raw milk producers - Germany and France - are struggling with adverse weather conditions. In the EU, milk producers are under pressure from high production costs and environmental regulations. The productivity of cows is gradually increasing, but this is not enough to compensate for the decrease in herds. According to Rural Bank estimates, the number of cows in the US is stabilizing, which will contribute to the stabilization of raw milk production. However, it is unlikely that this will be enough to increase it. In New Zealand in July there were record volumes of milk: by 9.2% more than last year. Milk production is expected to grow by 1-2% annually in the coming ...

Source: Agrotimes