Quarterly Argentina Milk Production Update – Jun ’20
Executive Summary Argentine milk production figures provided by the Argentina Ministry of Agriculture were recently updated with values spanning through the end of the ’19-’20 production season. Highlights from the updated report include:
- Argentine milk production increased on a YOY basis for the 11th consecutive month during May ’20, finishing up 10.9% and reaching a five year high seasonal level. ’19-’20 annual Argentine milk production volumes finished 3.8% higher on a YOY basis, reaching a four year high level.
- USDA is projecting the Argentine dairy cow herd will increase 0.8% throughout 2020, rebounding from the long-term record low levels experienced throughout 2019.
- Argentina is the fifth largest global dairy exporter, accounting for 2.8% of combined butter, cheese, nonfat dry milk and whole milk powder exports throughout 2019. The bulk of Argentine dairy exports are in the form of whole milk powder and cheese.