New Zealand: Waiting for the pain to subside in the dairy market

All eyes are on New Zealand at the moment. This is due to the recently reduced milk prices and the prelude to the peak of the season. Since mid-June, European dairy prices have fallen, especially those of milk powders. Price inflation for dairy products is leveling off across Europe, but prices are still above those of 2021. In the Netherlands, milk supplies continue to rise, although milk prices are slightly lower. Curious about all the figures, trends and developments in the dairy market? Read the update. In most export regions, lower milk prices have contributed to lower milk production. Rabobank is therefore tempering the forecast for milk production in 2023. The forecast for the most important export regions has been adjusted from 0.5% to 0.3% year-on-year growth (see figure 1). For next year we currently assume a plus of 0.4% compared to 2023. At the moment, our eyes are focused on New Zealand, where the peak in milk volumes will be reached in October, while seasonal ...