Global Milk Production Update – Nov ’16
Milk production within the major dairy exporting regions of New Zealand, the EU-28, the U.S., Australia and Argentina remained lower on a YOY basis during Aug ’16, declining by 1.2%. The aforementioned regions combined to account for over 90% of global butter, cheese, whole milk powder and nonfat dry milk export volumes during 2015. Combined milk production within New Zealand, the EU-28, the U.S., Australia and Argentina typically builds through August and September until it reaches its seasonal peak in October.
Combined milk production within the major dairy exporting regions has declined on a YOY basis over three consecutive months through Aug ’16. Production increased by 2.0% throughout the 12 month period prior to the most recent YOY declines, driven higher by a 3.8% YOY increase in EU-28 milk production experienced throughout the first year within the post-quota production environment.
Of the top five exporting regions, the U.S. was the only region to experience a YOY increase in milk production during Aug ’16, finishing up 1.7%. Declines on a percentage basis were led by Argentina (-11.9%), followed by Australia (-9.2%), New Zealand (-2.7%) and the EU-28 (-1.5%). The EU-28 produces significantly more milk than the other dairy exporting regions, accounting for over half of the combined production within the five exporting regions throughout the month.
Combined milk production within the major dairy exporting regions has declined on a YOY basis over three consecutive months through Aug ’16. Production increased by 2.0% throughout the 12 month period prior to the most recent YOY declines, driven higher by a 3.8% YOY increase in EU-28 milk production experienced throughout the first year within the post-quota production environment.
Of the top five exporting regions, the U.S. was the only region to experience a YOY increase in milk production during Aug ’16, finishing up 1.7%. Declines on a percentage basis were led by Argentina (-11.9%), followed by Australia (-9.2%), New Zealand (-2.7%) and the EU-28 (-1.5%). The EU-28 produces significantly more milk than the other dairy exporting regions, accounting for over half of the combined production within the five exporting regions throughout the month.