переведи текст который я пришлю,грамотно чтоб звучало логично и избегай использования дословного перевода в тех местах где не необходимо. Особое внимание удели переводу терминов.  As with all goods and services, the prices of dairy products are determined by the dynamics
of supply and demand, which in turn are affected by a variety of factors.
An awareness of supply and demand elements will result in a better understanding of these
integral markets.
Most dairy products in the world are consumed in the regional country in which they are
produced.
Trade in a large quantity of milk is informal through short supply chains, and even the formal
trade, most milk does not cross currency borders.
Global trade in milk, therefore, in most countries, involves milk that is surplus to a country's
requirements.
This dynamic means that only small changes in milk production can have a big impact
on the amount of commodity goods that make it into the global market.
The global export market for dairy products is dominated by three milk-producing regions,
including Oceania, Europe, and the United States.
The United States and Europe consume the majority of the milk they produce, with a
modest percentage of their production making it into the globally traded market.
New Zealand's milk production, on the other hand, represents a small proportion of the
world's total milk production, but almost all is exported, with those exports representing
a large proportion, up to 30% of global dairy exports.
Because the northern and southern hemisphere milk production peaks occur at different times
of the year, during spring and summer, each hemisphere's milk production acts as the
supply side price driver to global export prices.
New Zealand's agricultural system operates as a free and open market, with market pricing
the primary driver of both farmgate returns and land use allocation.
New Zealand farmers have no government support, buy-in programs, or subsidisation.
Milk production in New Zealand is almost entirely reliant on a pastoral system.
Milk feeds are generally only used to balance dietary requirements, or when the grass doesn't
grow.
This heavy reliance on grass drives New Zealand's production to be very seasonal, with a large
volume of milk produced over the peak compared to at the end of the season.
It also means that New Zealand's milk production is heavily exposed to the weather.
Milk production over the last decade has increased by over 30%.
This has primarily been driven by the relative returns of dairy, compared to competing land
use options such as sheep, beef, horticulture and forestry, driving land use changes as
well as productivity gains.
Replicating this growth rate for the next decade may be a challenge as farmers face increasing
compliance obligations around emissions, water quality and the wider environmental footprint
which will act to cap future milk production growth rates.
Future growth will instead be driven more by improvements in productivity such as herd
management and genetics.
Weather is the primary driver of volatility in New Zealand's milk production.
Typically regional droughts pose the most common challenge to grass growth and ultimately milk
production, but too much rain can also have a negative impact on milk production.
Due to its perishability, milk is not storeable.
Milk that is produced but not processed into drinking milk is converted into ingredient
or food service products such as milk powder, cheese, butter or protein concentrates.
Turning milk into these storeable products provides a cushion to meet demand when milk
output fluctuates throughout the year but inventory positions can be a material influencer
of price movements.
Milk provides important nutrients in the diets of many people as well as income for a large
proportion of many economies.
As a result, milk often becomes a fundamental element of food security objectives as well
as economic welfare considerations and hence is often a focus of protectionist legislation.
The impact of trade policy acts as an important source of volatility in global dairy markets.
The demand for milk and dairy products in global export markets is influenced by several
factors including economic conditions and competing alternatives.
The rise of emerging markets has provided a significant tailwind to dairy demand as incomes
have improved in these regions and the demand for high quality nutrition has followed the
rise in incomes.
Dairy is a versatile commodity which can be used as an ingredient in manufactured food
and pharmaceutical products as well as in retail and food service offering in its own
right.
Because many importing nations also have some domestic milk production, this can have an
impact on import demand.
These are just some of the key factors affecting dairy supply and demand.
There are many other factors that play a role in supply and demand such as on-farm costs,
interest rates and currency risk.
The dynamics of supply and demand in exported dairy products mean that all participants
along dairy's value chain face volatility and the risk of adverse price movements.
Inzidic's dairy futures and options provide a means to manage that volatility.
To learn more please refer to our other educational videos at the link on screen.