World: Dairy production is picking up again after years of standstill

Published 2024년 8월 28일

Tridge summary

Rabobank predicts a modest growth in milk supply from exporting regions, including New Zealand, the United States, and major European countries, in the latter half of 2024 and into 2025. However, New Zealand's milk volume declined by 1% in the 2023/2024 season due to a wet and cold start to the season. The US is experiencing a twelfth consecutive month of lower milk production, while the European Union and the UK experienced a slight increase in milk supply from January to May. China's milk production is increasing but growth figures are showing a slowdown, with a decline in average milk price and feed costs leading to an outflow of smaller and medium-sized dairy farms. Import volumes in China also declined by 18% year-on-year in the first half of the year.

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

Original content

This growth will already start in the second half of this year. For the second half of 2024, the bank expects a modest annual growth of 0.15 percent. If the growth forecast for 2025 comes true, the supply of milk from exporting regions will exceed the five-year average. The 2023/2024 season, from June to May, ended in New Zealand with a milk volume decline of just over 1 percent on an annual basis. The loss of milk production on the North Island due to a wet and cold start to the season was not made up for. The situation has now turned around. The North Island seems to be making a better start this season. The mild autumn weather is providing sufficient feed reserves. On the South Island, temperatures are lower, which is causing some dairy farmers to see their feed stocks decrease more quickly. The United States is still dealing with declining milk production, with milk production in July being 0.4 percent lower than last year. This is the twelfth consecutive month with lower ...

Source: Nieuwe Oogst