- Tight global supplies of skim milk powder and robust demand are expected to sustain high prices through 2025
- New U.S. cheese plants may drive increased milk production but could reduce powder output, affecting the overall market balance
- Dairy demand is recovering in Southeast Asia, fueled by economic growth and restocking efforts.
- Lower Chinese demand has prompted New Zealand to shift its focus to skim milk powder, butterfat, and cheese exports
- New Zealand’s tariff-free trade benefits are challenged by China’s economic slowdown, reducing dairy imports
While global demand trends provide a generally positive outlook for the dairy industry, potential oversupply makes Class III our wild card for 2025.
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