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 Jul ’21. Highlights from the updated figures include:

• Combined milk production within the major dairy exporting regions remained at a record high seasonal level for the 14^th consecutive month throughout Jul ’21, finishing 0.6% above previous year figures. The YOY increase in milk production volumes was the smallest experienced throughout the past 14 months, however.
• Jul ’21 YOY increases in milk production were led on a percentage basis by New Zealand, followed by Argentina and the U.S. EU-27+UK and Australian milk production volumes declined on a YOY basis throughout the month.
• Milk production growth throughout the U.S. continued to outpace growth experienced throughout the other major dairy exporting regions for the 12^th consecutive month throughout Jul ’21.

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 finished 0.6% above previous year levels throughout Jul ’21, remaining at a record high seasonal level for the 14^th 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.

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 25 months through Jul ’21. The Jul ’21 YOY increase in combined milk production volumes was the smallest experienced throughout the past 14 months, however.

Jul ’21 YOY increases in milk production on a percentage basis were led by New Zealand (+6.6%), followed by Argentina (+3.5%) and the U.S. (+2.0%). Jul ’21 milk production volumes declined on a YOY basis throughout the EU-27+UK (-0.4%) and Australia (-3.5%). The EU-27+UK produces significantly more milk than the other dairy exporting regions, accounting for over half of the combined production within the five exporting regions throughout Jul ’21.

Excluding the U.S., milk production within the major dairy exporting regions declined by 0.1% on a YOY basis throughout the month of July, remaining below the growth rate exhibited within the U.S. for the 12^th consecutive month.