New Zealand Milk Production Update
According to Dairy Companies Association of New Zealand (DCANZ), December ’13 New Zealand milk production continued the recent trend of production growth, increasing 4.7% YOY. New Zealand milk production finished the ’13 calendar year down 1.5% YOY after experiencing the worst drought in 15 years in the spring of ’13. Production was down 12.0% in the first half of the year, followed by a 5.5% increase in the second half of ’13 stemming from favorable weather and record high prices. ’13-’14 YTD (Jun ’13 – Dec ’13) New Zealand milk production is up 5.4% YOY. New Zealand milk production typically peaks in October and gradually decreases until seasonal lows are reached in the summer months.