News and Events
Share on:
The Milk Market (Baptiste Buczinski)
Presenting our October Milk Market Outlook report, where we dive into the latest trends across Europe, New Zealand, China, and the USA. Explore the dairy industry’s developments with insights drawn from thorough data analysis to keep you informed on market movements.
Be sure to SEE and share this valuable information!
GLOBAL MILK MARKET PRICES
In September, global prices for skimmed milk powder have generally trended upwards, while butter prices experienced a slight decline, except in the EU. Raw milk prices were still on the rise, except in China.
MILK MARKET IN EUROPE
After a period of growth in the first half of 2024, milk collection within the EU-27 declined year-on-year in the third quarter, reaching 35.8 million tons (-0.3% compared to 2023). In September, milk deliveries in the EU-27 were close to the levels of the previous year. The impact of bluetongue disease on dairy productivity has lessened, particularly in Belgium and the Netherlands. And EU raw milk price was still ont the rise, at $55.06/100 kg (+5% /August 2024 and +19% /September 2023).
USA DAIRY TRENDS
In the USA, after five consecutive months of decline, milk production rebounded year-on-year in August and September 2024. In the third quarter of 2024, it reached 25.41 million tons, remaining stable compared to the previous year. The United States is less active in the international butter market, now drawing from its stocks. But US raw milk price were still on the rise in September, at US$56.22/100 kg (+8% /August 2024 and +22% /September 2023).
MILK MARKET PRICES IN NEW ZEALAND
In New Zealand, the 2024/2025 dairy season, which began last June, started on a rather dynamic note. Between June and September 2024, 4.56 million tons of milk were produced in the country, representing an increase of nearly 6%. In September, New Zealand’s milk production was up year-on-year for the third consecutive month. With a strong demand for New Zealand products, NZ raw milk prices were still increasing in September, at US$42.57/100 kg (+30% /September 2023 and +2% /August 2024).
CHINA MILK PRICES
In a context of ongoing economic crisis, China’s dairy industry is facing persistent challenges in a context of oversupply of raw milk. The dairy industry is struggling with weakened demand while production capacity remains high. So, raw milk prices remain under pressure. In September, Chinese raw milk prices were still down and reached US$44.50/100 kg (-1% /August 2024 and 13% /September 2023).
Source:
