The fall of milk prices in Europe and the removal of milk quotas has caused the dairy industry to reconsider production methods, best practice and cost of production. Producers in the European Union (EU) produced six billion liters more milk in 2015 than 2014. Increased milk production has caused a change in prices, but other contributing factors have had a major impact on dairy demand, which, in turn, has also affected milk prices.

Source: All About Feed, 13 sept 2016