New Zealand Milk Production Update – Mar ‘14
According to the Dairy Companies Association of New Zealand (DCANZ), January ’14 New Zealand milk production continued the recent trend of production growth, increasing 7.4% YOY. January ’14 YOY milk production was the largest monthly increase since August ’13, when production increased 9.2%. ’13-’14 YTD (Jun ’13 – Jan ’14) New Zealand milk production is up 5.7% YOY, with additional YOY gains expected in future months. In Fonterra’s March Global Dairy Update, the New Zealand milk supply was forecasted to increase 7.5% YOY for the ’13-’14 season. Dry conditions have impacted some of the country however the adverse weather conditions are not as widespread as the same time last season. Fonterra collections were reported up 10.6% YOY in February ’14, partially due to adverse weather conditions reducing production in February ‘13. New Zealand milk production typically peaks in October and gradually declines until seasonal lows are reached in the summer months.