Dairy Market Review. Overview of global market developments in 2024
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The review finds that international dairy prices continued to strengthen since the beginning of 2024, led by butter prices. Moreover, global milk production is expected to moderately expand in 2024. The review also finds that world trade in dairy products reaches stability at 85 million tonnes, after two years of downturn. Looking at specific commodities, the outlook for world trade in cheese remains positive, butter and whole milk powder rebound, while SMP declines.