Global dairy markets rallied in the first month of 2019, following the liquidation of EU intervention stocks of SMP, a slowdown in milk production everywhere but New Zealand, and improved demand from China, Southeast Asia and Mexico. But a number of headwinds could be a drag on further market strength until the Northern Hemisphere flush is past.
In the first 10 months of 2018, U.S. export value was $4.71 billion, up 4 percent from the year before. U.S. exports were equivalent to 16.3 percent of U.S. milk solids production.
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