Eurostat revised German milk output to -1.3% YOY in August, compared to –5.4% YOY as reported last week. The difference of 112m kg of milk delivered a similar YOY fall as in July. This revision pulled EU27 supplies 0.4% below the prior year comparable, 1% point better than our previous estimate.

Milk solids content started to seasonally increase, but fat content remained below the prior year. We now estimate that September 2024 EU27 output of fat and protein declined by 0.9% YOY and 0.1% YOY, respectively.