
Milk production growth is slowing in Europe and New Zealand, with September growth reported at 0.2% in Europe and 1.9% in New Zealand, down from stronger earlier rates. The article cites lower milk prices, rising feed costs and adverse weather in Europe, and warns that El Niño could contribute to a decline in New Zealand production in early 2027; US output is still expanding.
Slower growth in two major exporting regions could constrain global dairy-product availability and support prices, while expanding US output may partly offset the tightening and strengthen US export competitiveness.
After 32 past bullish weather events, Milk (Class III) moved a median +0.1% over 5 sessions (50% higher; middle half -0.7% to +3.4%), and +3.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.