New Zealand Milk Production Update – May ’18
Executive Summary New Zealand milk production figures provided by Dairy Companies Association of New Zealand (DCANZ) were recently updated with values spanning through Apr ’18. Highlights from the updated report include:
- Apr ’18 New Zealand milk production volumes increased on a YOY basis for the first time in the past five months, finishing up 2.9% to a record seasonal high for the month of April.
- Fonterra’s ’17-’18 farmgate milk price forecast was raised from $6.40/kgMS to $6.55/kgMS during Apr ’18 on strong global dairy demand. Current farmgate milk prices are 7.0% above ’16-’17 price levels and are on pace to reach a four year high.
- Mar ’18 New Zealand cow & heifer slaughter rates increased 7.2% YOY when normalized for slaughter days, finishing higher on a YOY basis for the fifth time in the past six months.