Senior Analyst, Dairy
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Latest From Joseph Cook
Despite declining dairy heard but still high production per cow, the US manages to maintain milk production growth, supported by high demand for butter.
Dairy fats have had a year of impressive growth in 2018, despite a number of climatic factors and trade tensions that seemed to have shaped most of the dairy sector's growth.
US milk production in 2019 will continue to decline thanks to a falling import demand from China and Mexico, but will be marginally offset by increased butter imports, a staple in western-style dining across the Asia Pacific.
US dairy prices remained resilient to global market changes, as the year is drawing to the finish line.
Both Class III and Class IV complexes fell this week with relatively lower holiday demand this year.
US demand for cheese dwindled over the holiday period, with block and barrel prices seen at a 5-year low, while milk production dips on a year-on-year basis.