New Zealand Milk Production Update – Sep ’20
Executive Summary New Zealand milk production figures provided by Dairy Companies Association of New Zealand (DCANZ) were recently updated with values spanning through Aug ’20. Highlights from the updated report include:
- Aug ’20 New Zealand milk production volumes reached a record high seasonal level for the fourth consecutive month, finishing up 5.3% on a YOY basis.
- Fonterra’s ’20-’21 farmgate milk price forecast of $5.90-$6.90/kgMS was unchanged from the previous month, remaining below the six year high level experienced throughout the previous production season.
- New Zealand cow & heifer slaughter rates increased 14.0% on a YOY basis during Jul ’20 when normalizing for slaughter days, reaching a 34 year high seasonal level.