Executive Summary

Milk production figures throughout the major dairy exporting regions of New Zealand, the EU-27+UK, the U.S., Australia and Argentina were recently updated with values spanning through Nov ’21. Highlights from the updated figures include:

• Combined milk production within the major dairy exporting regions declined 0.5% on a YOY basis throughout Nov ’21, finishing below previous year levels for the third consecutive month.
• Nov ’21 YOY declines in milk production on a percentage basis were led by New Zealand, followed by Australia, the EU-27+UK and the U.S. Argentine milk production volumes remained above previous year levels throughout Nov ’21.
• Milk production growth throughout the U.S. finished below previous year levels throughout Nov ’21 but remained above growth experienced throughout the other major dairy exporting regions for the 16^th consecutive month.

Additional Report Details

Combined milk production within the major dairy exporting regions of New Zealand, the EU-27+UK, the U.S., Australia and Argentina declined seasonally to a three month low level throughout Nov ’21 while finishing 0.5% below previous year levels. The aforementioned regions combined to account for 90% of global butter, cheese, whole milk powder and nonfat dry milk export volumes throughout 2020.

Combined milk production volumes finished largely flat or lower on a YOY basis over eight consecutive months through Jun ’19, prior to finishing higher throughout each of the past 26 months through Aug ’21. More recently, combined milk production volumes have finished below previous year levels over three consecutive months through Nov ’21.

Nov ’21 YOY declines in milk production on a percentage basis were led by New Zealand (-1.5%), followed by Australia (-0.8%), the EU-27+UK (-0.7%) and the U.S. (-0.4%). Nov ’21 milk production volumes remained higher on a YOY basis throughout Argentina (+4.5%). The EU-27+UK produces significantly more milk than the other dairy exporting regions, accounting for nearly half of the combined production within the five exporting regions throughout Nov ’21.

Excluding the U.S., milk production within the major dairy exporting regions declined by 0.5% on a YOY basis throughout the month of November, remaining below the growth rate exhibited within the U.S. for the 16^th consecutive month.