February 3, 2023: January

World milk supply is on the rise with the European Union and the United Kingdom milk production showing sustained year-over-year (YOY) gains in addition to YOY gains seen the last several months in the U.S. In contrast, New Zealand milk production is being hampered by overly wet conditions and fell 0.6% YOY in December but is down 2.7% during the current 2022-23 season  compared to the same period in 2021-22. The increases in the EU and U.S. currently make up for the shortfall in Oceania. This, of course, is putting downward pressure on product prices, thus  farmgate milk prices. Read More