Global Milk Production Update – Jan ’17
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 Nov ’16, declining by 2.5%. 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 the major dairy exporting regions has declined on a YOY basis over six consecutive months through Nov ’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 Nov ’16 YOY decline of 2.5% was the second largest experienced throughout the past three and a half years, trailing only the Oct ’16 YOY decline of 3.2%.
Of the top five exporting regions, the U.S. was the only region to experience a YOY increase in milk production during Nov ’16 as production volumes finished up 2.6%. Declines on a percentage basis were led by Argentina (-17.6%), followed by Australia (-6.3%), New Zealand (-4.5%) and the EU-28 (-3.6%). 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 declined by 4.7% throughout the month of November. The YOY decline in production within the EU-28, New Zealand, Australia and Argentina was the second largest experienced throughout the past three and a half years, trailing only the Oct ’16 YOY decline of 5.7%.
More recent production figures for the month of December have been reported for the U.S., New Zealand, Australia and Argentina. U.S. milk production increased on a YOY basis for the 36th consecutive month, finishing 2.2% higher, however production declined by 2.7% within New Zealand, 4.1% within Australia and 19.3% within Argentina throughout the month.
Combined milk production within the major dairy exporting regions has declined on a YOY basis over six consecutive months through Nov ’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 Nov ’16 YOY decline of 2.5% was the second largest experienced throughout the past three and a half years, trailing only the Oct ’16 YOY decline of 3.2%.
Of the top five exporting regions, the U.S. was the only region to experience a YOY increase in milk production during Nov ’16 as production volumes finished up 2.6%. Declines on a percentage basis were led by Argentina (-17.6%), followed by Australia (-6.3%), New Zealand (-4.5%) and the EU-28 (-3.6%). 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 declined by 4.7% throughout the month of November. The YOY decline in production within the EU-28, New Zealand, Australia and Argentina was the second largest experienced throughout the past three and a half years, trailing only the Oct ’16 YOY decline of 5.7%.
More recent production figures for the month of December have been reported for the U.S., New Zealand, Australia and Argentina. U.S. milk production increased on a YOY basis for the 36th consecutive month, finishing 2.2% higher, however production declined by 2.7% within New Zealand, 4.1% within Australia and 19.3% within Argentina throughout the month.