Dairy market blog – 3rd February 2020
Global milk supplies have been growing by less than 0.5% for most of 2019, and according to Rabobank’s Q4 Dairy Report, this trend will likely continue with growth of less than 1% through 2020 and possibly into 2021.
Ornua concludes that 2019 global milk supplies will likely be about on par with 2018.
Latest output trends in the EU have seen a fall off in Irish deliveries by 5.7% for December – though it should be remembered that the December 2018 figure was a massive increase on the previous December. Output for Jan/Dec 2019 is up 5.2%, reaching (some expect exceeding) 8 bn litre.