U.S. producers of milk powder are set to bring significant amounts of new production capacity on line over the next two years, despite an ongoing global supply glut, according to a new research report from CoBank.
Despite a 30% reduction in milk prices since 2015, global milk production has continued to rise, with much of the surplus milk ending up as powder. This excess volume of powder, along with large inventories in the U.S. and New Zealand, has kept world milk powder prices lo
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