EU-28 Milk Production Continues Strong Growth – Apr ‘14
According to Eurostat, February ’14 EU-28 milk production continued the recent trend of production growth, increasing 5.1% YOY. Monthly YOY gains have increased each of the past eleven months, with the February ’14 YOY gain of 5.1% being the largest in three and a half years. Production was down 1.4% in the first half of 2013 due to high feed prices, wet and cold weather, and an early spring in major milk producing countries, however production increased 3.9% YOY from Jul ’13 – Feb ’14 as weather conditions and margins improved. ’13-’14 YTD (Apr ’13 – Feb ’14) EU-28 milk production is up 2.4% YOY with additional increases in production expected as producers prepare for the expiration of the EU quota system in April 2015. EU-28 milk production typically reaches a seasonal low in November before increasing to its seasonal peak in May.