Milk production up 7.5% in June on 2018
Domestic milk intake by creameries and pasteurisers was estimated at 994.3 million litres for June 2019. This was 7.5pc above the corresponding 2018 figure.
Teagasc has forecast that an increase in Irish milk production of around 10% in 2019 is likely.
However, Global milk supply growth in the first half of 2019 has slowed down considerably with increases in some key dairy regions offsetting reductions elsewhere.
US milk production is static and there is modest growth in the EU, where production is expected to increase by less than 1% in 2019.
Milk production has contracted sharply in Australia and Argentina due to adverse weather. Milk production in NZ is also down slightly, due to difficult weather in Q1 2019.
Irish milk prices fell slightly in Q1 of 2019, but the reduction has been limited. For the year as a whole a reduction in the Irish milk price of about 5% is envisaged by Teagasc.
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