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P5 Quota Committee meeting update

November 2, 2018

A P5 Quota Committee meeting took place on Nov. 1, 2018. No change to production signal was recommended. While there is still growth in market demand and P5 production is forecasted to be lower than last year’s level, butter stocks are continuing to be relatively high for this time of the year. The CDC December 2018 butter stocks level forecast has been revised downward from 32 000 tonnes to 27 000 tonnes, a level that remains above the 17 000 tonnes target level for the month of December.  The P5 Quota Committee will continue to monitor closely milk production and the market evolution and will determine if further measures will be required.

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