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Mixed trend in UK dairy product availability Q1 2023
Thursday, 22 June 2023
The availability of manufactured dairy products remained mixed in the first quarter of 2023, compared with the same period last year.
UK milk deliveries in the first three months of 2023 amounted to 3,720 million litres (1.3%) more year-on-year.
The overall increase in milk supplies during this period impacted production volumes of dairy products, with cheese and milk powders registering growth while butter declined. Lacklustre demand and an increase in product availability could weigh on prices in the short term.
Cheese exports declined by 2,800 t (6.2%) on the year and an increase in production and imports resulted in an overall increase (+13.3%) of available supplies.
Available supplies of butter declined in Q1 2023, down by 4,100 t (7.7%) compared with the same period in 2022. Lower production (-5,600 t) and higher exports (+3,100 t) drove down supplies. Good demand from the EU resulted in higher exports during the period.
Milk powders were an exception, recording increases across the board. Although exports picked up by 8,600 t during Jan–Mar 2023 compared with the year before, strong growth in production (8,7000 t) and imports (3,600 t) was also seen, this resulted in higher levels of available supplies.
China was quiet in the market but there was good demand from North and South-East Asia, and the Middle East, which drove exports.
With spring flush milk having peaked in May, milk deliveries are likely to decline in the coming months. This may support milk prices to a certain extent, however, much will depend on the overall macro-economic conditions in the domestic and global markets.
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