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April 2015 Dairy Commodities Update

April 01, 2015

The story at the beginning of the year was the potential abundance of milk going into 2015. The story continues to be milk, milk and more milk in the global marketplace. In the main milk-producing areas of the world, specifically the EU and New Zealand, we have seen a striking turnaround in the amount of milk production. Many of us remember the recent double whammy: a production-ending early drought in New Zealand during a cold, wet spring and government-imposed milk production quotas that kept milk production numbers in the EU dramatically low. The US market became the source to the world for butter and SMP. We are looking at a slightly different picture today.

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