UK: November 2024 dairy market review

In November 2024, GB milk deliveries saw a significant increase of 4.4% compared to the previous year, totaling 1,018 million liters and averaging 34.0 million liters per day. This surge, attributed to beneficial milk to feed price ratios, favorable weather, and an increase in Autumn block calving, has resulted in a 0.4% increase in milk production compared to the same period in 2023. Despite this growth, organic milk deliveries have seen a decline, with a 9.3% decrease compared to the previous year.

The GB milking herd has also seen a decrease, with a 0.9% drop compared to the previous year, resulting in the lowest October number recorded. However, expectations for milk production for the 2024/25 milk year are revised to account for the current market situation, with an expectation to end 0.9% above the previous year.

Dairy exports from the UK for Q3 2024 saw a decline, with the lowest quarterly volume recorded in the last two years due to a sharp decline in exports of powders. However, cheese and curd, whey and whey products continued to grow year-on-year. Cow’s dairy volumes declined by 0.6% year-on-year, and spend on cow’s dairy declined 0.1%, despite growth in average prices. However, cow’s cheese, cow’s yoghurt, yoghurt drinks and fromage frais continue to grow, with standard plain yoghurts and healthy yoghurts seeing the fastest growth.