Global Market Updates

Milk from Australian dairy farms are made into products that are sold locally and in countries around the world. Understanding what is happening in all these markets will provide an insight to important trends that strongly influence Southern Region farmgate milk prices. Keep up to date with the latest global dairy market developments

EU February milk supply figures mixed

EU February milk supply figures mixed

Based on 51% reported average Eurostat milk production, leap-year adjusted EU-27 supplies rose 1% YOY in February. This expansion was the result of stronger supplies in Ireland (+8.1% YOY) and Italy (+6.3% YOY), and despite negative trends in Netherlands (-1.9% YOY),...

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EU February milk supply figures mixed

US February exports stronger than expected

US dairy exports were surprisingly high in February, accounting for 17.5% of national milk supply, which was a 9-month high. This was despite the well-known issues with logistics and shipping delays. Dairy export value rose 7% YOY to US$565.5m while in MSE terms...

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EU-27 milk to grow 1% in 2021

EU-27 milk to grow 1% in 2021

The European Commission’s (EC) Spring 2021 Short-term outlook projects EU-27 milk deliveries to increase 1% YOY this year to 146.8bn kg, the result of a 2% YOY increase in average yield per cow and despite a 0.9% YOY contraction in dairy cow numbers. The growth in...

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GDT fizzles

GDT fizzles

After a few weeks of not much happening in global dairy markets, we came back from the festival of chocolate to a GDT event where not much happened. The overall GDT index edged up 0.3% at event 281. SMP inched higher by 0.5% or US$17/t to average US$3,367/t, with the...

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EU milk value crawls up to 36c

EU milk value crawls up to 36c

German-based IFE Institute’s estimated average EU raw milk value is up 0.3c to 35.9c/kg at the based on official prices of butter and SMP in Germany, France and the Netherlands. The average price of butter is up €63 to €4,147/t while SMP averaged €2,502/t, up €8....

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EU February milk supply figures mixed

January trade dropped sharply

According to our latest monthly Global Dairy Directions Trade Insights , January global trade fell 7.2% YOY in milk solids equivalent (MSE) terms, taking trade in the three months to January down 0.8%. Two-way trade between the EU-27 and UK explained most of the...

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EU February milk supply figures mixed

US milk production up 2% in February

US milk production expanded 2% in February – leap year adjusted - according to the USDA. The milking herd continued to expand reaching 9.458m cows, a gain of 3,000 head from the previous month and 81,000 higher YOY. That month-on-month growth in cow numbers was lowest...

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EU February milk supply figures mixed

NZ milk output up in February

The latest data from DCANZ shows February milk output rose 6.7% YOY on a milk solids basis and volume basis - when adjusted for the 2020 leap year. Milk solids production continues to rise, now up 0.9% for the season, compared to the same period in the prior season...

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EU February milk supply figures mixed

EU milk supply starting to improve

Estimated EU output was down 1.2% YOY, but some key producers such as Germany, Denmark and Austria have still not published data. Twenty-two EU-27 member countries have so far published January 2021 milk production data on Eurostat, jointly accounting for 69% of milk...

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