November 2023 dairy market review in the UK

Published 2023년 12월 14일

Tridge summary

GB milk deliveries in November were down by 2.8% year-on-year, and the revised forecast for the 2023/24 season expects a reduction of 1.3% in production, driven by yield reduction due to high input costs and low prices. There has been a significant loss of dairy farms in the past year, with 420 producers leaving the industry, and domestic demand for dairy products may be beginning to increase. Additionally, export volumes of dairy products from the UK increased by 4% in the third quarter of 2023.

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

Original content

GB milk deliveries continued their downwards trajectory in November with estimated volumes for the month down by 2.8% year-on-year, or the equivalent of 29m litres. Production for the milk season to date is 8, 254 million litres, down by a modest 38m litres compared to last year. Very wet weather in the Autumn has meant that many cattle had to be housed early, further exposing farmers to market increases in inputs such as straw. In our revised forecast GB milk production for the 2023/24 season is expected to reach 12.22 billion litres which is a reduction of 1.3%. this represents a more pessimistic outlook about the speed of decline than we estimated previously. This is due to the acceleration of production declines seen this Autumn. Changes are being driven by yield reduction due to continuing high input costs and low prices, rather than a loss in cattle numbers. Latest analysis of BCMS data showed that over the previous year as a whole (the 12 months ending September 2023) ...

Source: Ahdb