UK: January 2024 dairy market review

Published 2024년 2월 13일

Tridge summary

In January, GB milk deliveries saw a decrease of 0.7% from the previous year, a fall of 7.6 million litres. This decline was less significant than the 3% declines witnessed in the Autumn. A 1.7% decrease was also observed in global milk deliveries across selected regions, with Australia being the only exception. The decrease in EU total milk deliveries was primarily due to production declines in France, Germany, and Ireland. Despite these declines, a modest growth of 0.25% is expected in global milk production by 2024. Meanwhile, the UK wholesale markets experienced some uncertainty in January, with mild cheddar and butter recording minor price gains.

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

Original content

GB milk deliveries fell back again in January by 7.6 million litres, compared to the previous year, or -0.7%. The decline deepened from December’s -0.3% but the rate of decline remains behind the c. 3% declines seen in the Autumn. Production for the milk season to date (April to January) totals 10,296 million litres, slightly behind (-0.5%) the same point in 2023. This is currently running ahead of the latest forecast revision, which will be revised in March ahead of the flush. You can read more about expectations and drivers for the milk year ahead in the Dairy market outlook. Global milk deliveries in the latest period (November) averaged 809.3 million litres per day in November, a decline of 13.9 million litres per day, or -1.7%), across the selected regions, compared to the same period last year. All regions except Australia recorded year on year volume decline. Milk deliveries in the EU averaged 351.7 million litres per day in November, a decline of 10.9 million litres per ...

Source: Ahdb