European milk production is still growing but at a slower pace in some countries. French weekly output increased just 1.8% year-over-year the week ending January 10, a 20-week low, and German milk production rose 5.6% year-over-year, a 20-week low. In Germany, November average farmgate milk prices fell below the prior year’s average price in the sharpest monthly decline so far this year. Slowing milk output should follow lower farmgate prices, but so far, production in Europe has remained relatively resilient.
In the US, December milk production rose in line with expectations as more cows were added. Total 2025 milk output reached an all-time high. The US cow herd remains historically large (+212,000 year-over-year) despite a downward revision in November’s cow numbers. Added cow capacity and cheaper feed are keeping a firm floor under production volumes into 2026 despite some producers now receiving their weakest milk prices since the pandemic.
This week’s highlights include:
- Pulse Prices Rise
- Argentina’s WMP Exports Surge
- US December Output Lifts
- EU Milk Growth Continues to Slow
- Australian December Milk Output Up
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