World Dairy Situation - 2017

摘要

After more than a year of relatively low global milk prices, a significant recovery in the last year brought prices up to around the 10-year average level. However, while butter prices now hover near record-high levels in most parts of the world due to a combination of steady strong demand for butter and cheese and relatively limited supplies, solids-non-fat prices remain low, with high stocks in Europe, the US and China. As a result, the historical gap between butter and skim milk powder (SMP) prices persists, and the situation is not expected to change much in the coming months.