Global milk supplies are declining. Milk output among major dairy exporters fell from a year ago in both September and October, and it is expected to continue the downward trend in November. So far, November milk production fell 0.4 percent in the US, 1.5 percent in New Zealand, and 0.8 percent in Australia. While not all European countries have reported November data, Germany has reported a 2.9 percent decline in November, the steepest decrease for that country since 2017, according to the Daily Dairy Reporter. Read More
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