Thursday, April 25, 2024

Production up, but prices soften

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Fonterra herds produced 4.5% more spring milk last month than in September last year, as a mild winter, good cow condition, and pasture growth combined to push up collection by 4 million kilograms of milksolids (MS) in both the North and South Islands.
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Fonterra’s latest global dairy update said North Island collection was 128m kg MS, and South Island collection reached 67m kg MS.

Total collection for the season to date was up 5%, the report said.

The co-op’s Australian milk collection spiked even higher, last month showing a 10% lift over September last year, and 10% higher for the season to date.

Australian milk collection for the three months to September 30 was 29m kg MS, 3m ahead of the same period last year.

In New Zealand, milk volumes are approaching peak collection time for this season, forecast to be mid this month.

The report had little good news for farmers who have seen their forecast milk price slashed from $7 to $5.30 in the space of a few weeks.

Global dairy market prices continued to fall with softening demand and steady supply driving world commodity markets, the report said.

Milk production continued to grow in key export regions.

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