EU milk growth slowing?
Those who are analysing global milk output closely have realised two things: first, 2016 was a leap year, and it is difficult to compare one with the other, unless you adjust for the extra day. Second, comparing output over the last few months and right out to the end of March, with the same months in the previous year is skewed by the fact that the last months of 2014 and the first quarter of 2015 were severely restrained by superlevy.
When you allow for both those things, as have the UK’s AHDB in the graph below, you see that the growth has slowed down in recent months, from around 5% over previous year to around 3% for the last couple of months.
This assessment is based on the figures currently available from the EU MMO which cover up to February 2016. With a 2 month lag, it will be June before we can get a feel for April figures – the first we will be able to measure against a post-quota comparator in 2015.