World: Milk price of 50 euros is back in the picture

The bank's dairy analysts expect a further decline in milk supplies in the largest dairy exporting countries in the first half of this year. Rabobank does anticipate an increasing milk supply for the second half of the year, compared to a year earlier. For the whole of 2024, the dairy analysts assume an average European milk price of 47.50 euros. The expectation of a milk price of around 50 euros around May includes any allowances for dairy farmers. The higher milk prices are mainly due to lagging production. Consumers worldwide are not yet very generous in their spending. The bank therefore expects 'no major jumps' in the recovery of demand in 2024. In January, the prices of dairy products in Europe fell compared to January 2023. The prices for butter and fresh whole milk fell by 7,000 respectively. fell 6 percent and 4.4 percent, while the price drop for cheese was limited to 0.2 percent. In the Netherlands, the decline in cheese prices was stronger. The bank saw an improvement ...