Global Milk Production Update – Dec ’16
Combined 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 Sep ’16, declining by 1.6%. 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 the months of 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 four consecutive months through Sep ’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. The Sep ’16 YOY decline of 1.6% was the largest experienced throughout the past three years.
Of the top five exporting regions, the U.S. and New Zealand were the only regions to experience YOY increases in milk production during Sep ’16 as production volumes finished up 2.1% and 1.1%, respectively. Declines on a percentage basis were led by Argentina (-11.9%), followed by Australia (-10.2%) and the EU-28 (-2.8%). 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.
More recent production figures for the month of October have been reported for the U.S., New Zealand and Australia. U.S. milk production increased on a YOY basis for the 34th consecutive month, finishing 2.5% higher, however production declined by 5.5% within New Zealand and 11.4% within Australia throughout the month.
Combined milk production within the major dairy exporting regions has declined on a YOY basis over four consecutive months through Sep ’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. The Sep ’16 YOY decline of 1.6% was the largest experienced throughout the past three years.
Of the top five exporting regions, the U.S. and New Zealand were the only regions to experience YOY increases in milk production during Sep ’16 as production volumes finished up 2.1% and 1.1%, respectively. Declines on a percentage basis were led by Argentina (-11.9%), followed by Australia (-10.2%) and the EU-28 (-2.8%). 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.
More recent production figures for the month of October have been reported for the U.S., New Zealand and Australia. U.S. milk production increased on a YOY basis for the 34th consecutive month, finishing 2.5% higher, however production declined by 5.5% within New Zealand and 11.4% within Australia throughout the month.