World milk market: Milk production is falling and prices are rising

Published 2024년 8월 9일

Tridge summary

In the first half of 2024, the European Union (EU) experienced a slight increase in milk production, but Western Europe saw a decline due to extreme heat and wet weather in leading dairy countries like Ireland, the Netherlands, Denmark, and Britain. This has led to a shortage of cream and raw materials for cheese production, affecting export markets and demand. The USA also reported a decrease in raw milk production due to weather conditions and logistical issues, causing a raw milk shortage and a shift in production towards other dairy products. In New Zealand, high production costs and a reduction in Chinese imports have led to a decrease in milk production, while Australia saw an increase but faces challenges such as rising production costs, labor shortages, and adverse weather conditions. These factors are expected to impact future milk production levels.

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

Original content

Production and demand Europe. Despite the fact that in January-May 2024, the volume of milk in the EU increased by 1% compared to last year's period and amounted to 62.79 million tons, milk production in Western Europe crossed the peak values in June and began to decline. One of the reasons for the decrease in milk production was the strong heat, which this year broke records in a number of countries and affected the decrease in the productivity of cows. In Ireland, on the contrary, a too wet and cold spring had a negative effect on the growth of grass on pastures and led to a reduction in yield. In addition to Ireland, milk production decreased in such leading exporters of exchange goods as the Netherlands, Denmark, Great Britain. Milk processing enterprises of Western Europe began to experience a shortage of cream in conditions of active demand for packaged butter on the European market. Cheesemakers experienced a certain shortage of raw materials against the background of ...

Source: MilkUA