Grlobal milk production is peaking just as producers in major dairy regions are beginning to feel the impact of lower milk prices. Milk supplies — boosted by the combination of mild weather, recent high milk prices and falling feed costs — along with higher dairy product inventories are more than ample for current needs. The peak production season arrived early this year throughout Europe as it was ushered in with lush pasture growth. Europe's additional milk has translated into heavy intake volumes for manufacturers, see graph. Many processing plants across the continent have been operating at capacity which has created some challenges.
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