Global Milk Production Update – Mar ’21
Combined milk production within the major dairy exporting regions of New Zealand, the EU-27+UK, the U.S., Australia and Argentina finished 0.8% higher on a YOY basis during Jan ’21, remaining at a record high seasonal level for the eighth consecutive month. The aforementioned regions combined to account for 90% of global butter, cheese, whole milk powder and nonfat dry milk export volumes throughout 2020.
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Combined milk production growth rates experienced throughout the major dairy exporting regions decelerated over much of 2018 but remained positive until Nov ’18, when production volumes declined on a YOY basis for the first time in the past 22 months. Combined milk production volumes finished largely flat or lower on a YOY basis over eight consecutive months through Jul ’19, prior to finishing higher throughout each of the past 19 months through Jan ’21.
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Jan ’21 YOY increases in milk production on a percentage basis were led by Argentina (+7.7%), followed by Australia (+3.3%), the U.S. (+2.4%) and New Zealand (+0.8%). Production finished lower on a YOY basis throughout the EU-27+UK (-0.8%). The EU-27+UK produces significantly more milk than the other dairy exporting regions, accounting for half of the combined production within the five exporting regions throughout Jan ’21.
![](http://www.attenbabler.com/wp-content/uploads/2021/03/word-image-379.png)
Excluding the U.S., milk production within the major dairy exporting regions increased by less than 0.1% on a YOY basis throughout the month of January, finishing below the growth rate exhibited within the U.S. for the sixth consecutive month.
![](http://www.attenbabler.com/wp-content/uploads/2021/03/word-image-380.png)
More recent production figures for the month of February have been released for New Zealand, the U.S. and Argentina. Feb ’21 production volumes remained higher on a YOY basis throughout all three countries when accounting for the previous year’s leap year.
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