Global Dairy Prices Climb While Milk Output Keeps Growing

Global dairy prices are firming across exchanges even as milk production grows in both hemispheres, pointing to demand rather than scarcity. Nate Donnay, Director of Dairy Market Insight at StoneX, explains what is behind the move and which supply risks buyers are watching into 2027. U.S. headline milk production grew 2.3% in June and 3.6% once higher fat and protein content is counted, while New Zealand milk solids rose 5.6% and European output grew an estimated 1.9%. Donnay works through the risk stack behind the buying, from European drought lifting feed costs and lowering river levels, to bluetongue, bird flu, New World screwworm and a new uncharacterized orthobunyavirus found in cows in Germany, France and Switzerland. He also sets those reports against the Schmallenberg virus record from 2011 into 2012. Discover Actionable Dairy Insights with StoneX Plus: https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_nate_donnay&utm_content=share 0:00 Dairy Prices Firm Everywhere 1:22 Supply Cannot Explain This 2:17 Drought Hits Feed and Rivers 3:35 New Virus in European Herds 5:50 Conflict Routes Slow Cargoes 6:45 The Bearish Case Nobody Buys Like and subscribe for more financial market insights. #Dairy #StoneX #NateDonnay #DairyFarming