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

Published 2024년 1월 5일

Tridge summary

Rabobank predicts a decline in milk supplies from major dairy exporting countries in H1 2024, with a recovery expected in H2. The average European milk price for 2024 is projected to be 47.50 euros, peaking at 50 euros in May due to lagging production and cautious consumer spending. Dairy production in the Netherlands is shifting towards cheese and condensed milk, with a decrease in whole milk powder production. Meanwhile, New Zealand's milk production is predicted to be slightly lower in the 2023-2024 season due to El Niño, while the US has seen a decrease in milk production since June 2023 due to a smaller dairy herd, lower milk production per cow, and cost-cutting measures.

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

Original content

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 ...

Source: Nieuwe Oogst