Global milk production across the key dairy exporting nations fell between October 2015 and January 2016. The daily milk equivalent* reduced by 1.6%, with production dropping across all of the five regions. This suggests low milk prices are starting to impact production levels in many regions, not just in New Zealand.
However, there was a slight uplift in deliveries again in February, creeping up 0.3% overall. This was driven by increases across all regions except Argentina.
A small increase for a single month shouldn't give too much cause for concern, given that a similar one-off rise was seen between September and October last year. However, EU data is currently only available up until February and the biggest volume contributors, the EU and US, are now into their peak production months.