Argentina Braces for a 2% Dip in Milk Production for 2024
Source: The DairyNews
Anticipated Decline: The latest USDA World Markets and Trade report indicates a forecasted drop of over 2% in Argentina's milk production for 2024, totaling 11.5 million tons—a second consecutive year of decline and an acceleration from the previous year's downturn.
Currency Devaluation Impact: Producer margins face substantial pressure due to currency devaluation, resulting in increased costs for feed and imported inputs. This economic challenge is expected to cast a shadow on the growth potential of output per cow in the upcoming year.
Persistent Decline: The impending decline in milk production signals an ongoing economic struggle for Argentina's dairy sector, with the compounding effects of consecutive years of reduction and an exacerbated pace of decline.
Source: Insights from USDA World Markets and Trade Report
Persistent Decline: The impending decline in milk production signals an ongoing economic struggle for Argentina's dairy sector, with the compounding effects of consecutive years of reduction and an exacerbated pace of decline.
Source: Insights from USDA World Markets and Trade Report
