Global Milk Production Update – Aug ’18
Combined milk production within the major dairy exporting regions of New Zealand, the EU-28, the U.S., Australia and Argentina finished higher on a YOY basis for the 16th consecutive month during Jun ’18, increasing by 1.4%. The aforementioned regions combined to account for over 90% of global butter, cheese, whole milk powder and nonfat dry milk export volumes throughout 2017.
Combined milk production within the major dairy exporting regions declined on a YOY basis over nine consecutive months through Feb ’17, prior to finishing higher throughout the past 16 months. The Jun ’18 YOY increase in combined milk production within the major dairy exporting regions was the smallest experienced throughout the past three months as hot weather conditions were experienced throughout Northern Europe while production volumes within Australia declined on a YOY basis for the first time in the past 13 months.
Jun ’18 YOY increases in milk production on a percentage basis were led by New Zealand (+11.2%), followed by Argentina (+4.8%), the EU-28 (+1.3%) and the U.S. (+1.2%). Milk production within Australia declined 1.4% on a YOY basis throughout the month. The EU-28 produces significantly more milk than the other dairy exporting regions, accounting for over half of the combined production within the five exporting regions during Jun ’18.
Excluding the U.S., milk production within the major dairy exporting regions increased by 1.5% throughout the month of May, finishing above the growth rate exhibited within the U.S. for the 13th consecutive month.
The EU-28 accounted for over half of the total YOY increase in milk production experienced throughout the major dairy exporting regions for the 12th time in the past 13 months during Jun ’18, despite hot weather conditions experienced throughout Northern Europe.
More recent production figures for the month of June have been reported for New Zealand and Argentina. Production remained higher on a YOY basis across both countries throughout the month.