Weaker global milk demand set to push dairy commodity prices marginally lower in remainder of 2022 – global report Despite global milk production looking set to decrease for the fourth consecutive quarter in Q2 2022, weakening global demand is expected to create a scenario that will see moderate price declines in dairy commodities during the second half of the year, according to new global report by agribusiness banking specialist Rabobank. “The current slowdown in global milk output is directly related to higher costs of production and weather events. However, high oil prices could support dairy import demand for some oil export countries, as seen in previous commodity cycles,” she said. New Zealand updateThe report says New Zealand dairy farmers, like many farmers around the world, are juggling inflationary input cost pressures. And this would be a huge blow to both countries and the wider global dairy market.”A summary of all analysts' forecasts for both the 2021/22 and 2022/23 seasons is here.

Source: New Zealand Herald June 16, 2022 10:25 UTC