\u201cThe excess supply of milk in the market has put natural downward pressure on both milk powders,\u201d she said, adding that the falls were heavier than anticipated.<\/p>\n
She said global milk production in the year-to-date had shown strong growth across all major milk-producing regions bar China, which was down 4.6% year on year.<\/p>\n
Volumes for whole milk and skim milk powders were up almost 20% on the equivalent event last year, highlighting how much extra product is available in the market, and global inventories are on the rise.<\/p>\n
The important whole milk powder price fell 4.4% to US$3425 ($6034). <\/p>\n
Skim milk powder fell 7%, while anhydrous milk fat was down 3.9%, butter fell 5%, cheddar dropped over 12.3%, and lactose dipped 3.6%.<\/p>\n
On the positive side, butter milk powder rose 8.2%, and mozzarella was up 3.8%. <\/p>\n
Looking ahead, Crickett said recent market developments on the global milk production scene showed early indications that the year-on-year production growth trajectory was starting to change.<\/p>\n
\u201cHeatwaves across Europe have proved as a hindrance to productivity, most notably in France and Belgium, with some heat-stress-related dairy cattle fatalities also reported in Jersey.<\/p>\n
\u201cThe announcement of El Nino conditions arriving in the tropical Pacific last week could further add to the production output decreases in the months to come.\u201d<\/p>\n
– RNZ<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThe excess supply of milk in the market has put natural downward pressure on both milk powders,\u201d she…\n","protected":false},"author":2,"featured_media":515136,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[85040,806,6326,138,7224,3592,1437,78,111,139,69,12937,8603,19862,21938,1237,1530],"class_list":["post-515135","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-85040","tag-as","tag-biggest","tag-business","tag-dairy","tag-fall","tag-global","tag-in","tag-new-zealand","tag-newzealand","tag-nz","tag-prices","tag-slump","tag-supply","tag-surges","tag-two","tag-years"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/515135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=515135"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/515135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/515136"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=515135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=515135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=515135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}