UK: Marginal growth expected in Great Britain milk production for the upcoming season

Published 2023년 3월 23일

Tridge summary

The forecast for GB milk production in the 2023/24 season is projected to reach 12.46 billion liters, marking a 0.5% increase from the current milk year. This growth is primarily due to improved yields, with cow numbers remaining relatively stable. However, the Milk Forecasting Forum has identified risks to production in the second half of the season, including increased working capital requirements and declining milk prices, which could lead to higher production costs and potential destocking. The next forecast update will be provided in June, providing more clarity on price levels and silage availability.

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

Original content

GB milk production for the 2023/24 season is forecast to reach 12.46bn litres, 0.5% more than the current milk year, according to our March forecast update. The current season is expected to finish at 12.39bn litres, up by 0.2%. The improvement in yields seen since September 2022 has boosted the current season total, which was running behind throughout the first half of the season by around 1-2%. The improvements in milk production in the second half of the 2022/23 season were predominantly driven by higher yields, encouraged by the high milk prices paid through the winter months. Cow numbers were relatively stable, with the size of the GB milking herd in January 2023 only 0.8% lower than a year earlier. This is the smallest annual decline since January 2018, according to data from BCMS. At the latest Milk Forecasting Forum, it was generally agreed that the current yields were likely to continue through the spring period. However, there are some risks to production in the second ...

Source: Ahdb