Global milk volume in recovery modus

Global milk production levels continue to recover following the sharp contraction in late 2016, according to the Rabobank Global Dairy Quarterly Q2 2017. Higher farmgate prices and more favorable weather conditions are providing much-needed relief for the world’s dairy farmers after a 3-year decline in milk values. Farmgate prices in the US continue to track well above the prices in Europe and Oceania, spurred on by local demand and, thanks to a slightly weaker US dollar, firmer export trade.