Tridge summary
Dairy production in the United States and European Union has experienced a slight increase after a prolonged decline, according to the latest reports. US production rose by 0.8% in December 2022 and by 0.2% for the year, while the EU saw a 1.7% increase in October. However, Australia's production decreased by 9.7% in November due to wetter and colder conditions.
Dairy exports from the US increased by 7% in November and 3.7% year-on-year, driven by lactose, cheese, and butter. In contrast, exports from New Zealand and the EU fell significantly in October and November. China's importations were also down, with a 16.7% decrease in the 12 months of 2022. Despite this, there is strong demand for milk powders in Latin American countries, and the Middle East and Africa have received more cheese, skim milk powder, butter, and whey.
Dairy exports from the US increased by 7% in November and 3.7% year-on-year, driven by lactose, cheese, and butter. In contrast, exports from New Zealand and the EU fell significantly in October and November. China's importations were also down, with a 16.7% decrease in the 12 months of 2022. Despite this, there is strong demand for milk powders in Latin American countries, and the Middle East and Africa have received more cheese, skim milk powder, butter, and whey.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
United States and European Union dairy production figures are slowly increasing after many months in decline, signalling a supply-side change in global dairy markets. In the US, dairy production rose 0.8% in December 2022, compared with the same month a year earlier, and production for the calendar year 2022 was up 0.2% compared with 2021. That is the sixth consecutive month of small increases compared with eight previous months of decline. EU production rose 1.7% in October, the latest month for which figures have been published, and the 12-month change is minus 0.4%. According the Fonterra’s Global Dairy Update (GDU) published on January 31, Australia’s milk production was down 9.7% in November and down 6.2% in the 12 months to end November. “A significantly wetter and colder spring materially impacted the availability and quality of pasture, silage and hay,” the GDU says. “Summer conditions have been more favourable and milk production is beginning to stabilise through December ...
Source: Farmersweekly
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