Global Milk Production Update – Jan ’18
Combined milk production within the major dairy exporting regions of New Zealand, the EU-28, the U.S., Australia and Argentina finished higher on a YOY basis for the tenth consecutive month during Nov ’17, increasing by 3.9%. The aforementioned regions combined to account for over 90% of global butter, cheese, whole milk powder and nonfat dry milk export volumes throughout 2016.
Combined milk production within the major dairy exporting regions declined on a YOY basis over eight consecutive months through Jan ’17, prior to finishing higher throughout the past ten months. The Nov ’17 YOY increase in combined milk production within the major dairy exporting regions was the largest experienced throughout the past three years on a percentage basis.
Of the top five exporting regions, YOY increases in milk production on a percentage basis were led by the EU-28 (+6.1%), followed by Australia (+4.3%), New Zealand (+4.2%) and the U.S. (+1.0%). Production declined slightly within Argentina (-0.4%) throughout the month. The EU-28 produces significantly more milk than the other dairy exporting regions, accounting for nearly half of the combined production within the five exporting regions throughout the month.
Excluding the U.S., milk production within the major dairy exporting regions increased by 5.3% throughout the month of November, finishing above the growth rate exhibited within the U.S. for the sixth consecutive month.
The EU-28 continued to account for over two thirds of the total YOY increase in milk production experienced throughout the major dairy exporting regions during Nov ’17, despite the growth experienced throughout the other regions.
Combined milk production within the major dairy exporting regions declined on a YOY basis over eight consecutive months through Jan ’17, prior to finishing higher throughout the past ten months. The Nov ’17 YOY increase in combined milk production within the major dairy exporting regions was the largest experienced throughout the past three years on a percentage basis.
Of the top five exporting regions, YOY increases in milk production on a percentage basis were led by the EU-28 (+6.1%), followed by Australia (+4.3%), New Zealand (+4.2%) and the U.S. (+1.0%). Production declined slightly within Argentina (-0.4%) throughout the month. The EU-28 produces significantly more milk than the other dairy exporting regions, accounting for nearly half of the combined production within the five exporting regions throughout the month.
Excluding the U.S., milk production within the major dairy exporting regions increased by 5.3% throughout the month of November, finishing above the growth rate exhibited within the U.S. for the sixth consecutive month.
The EU-28 continued to account for over two thirds of the total YOY increase in milk production experienced throughout the major dairy exporting regions during Nov ’17, despite the growth experienced throughout the other regions.