Milk supply growth stalled for the Big 7 regions

The milk production of the big 7 regions came to a standstill in the first 3 months of 2019. This is according to Rabobank’s Dairy Quarterly Q1 2019 report. The combined year-on-year milk supply growth from the Big 7 exporters (the US, the EU, New Zealand, Australia, Brazil, Argentina, and Uruguay) has completely stalled in Q1 2019). Farmgate milk prices were unable to mitigate expensive inputs, with margin squeeze resulting in most major exporting regions unable to significantly boost output.