According to Dairy Companies Association of New Zealand (DCANZ), March ’14 New Zealand milk production continued the recent trend of production growth, increasing 22.0% YOY. The March ’14 YOY milk production increase was the largest monthly increase in nearly five years, partially due to adverse weather conditions reducing production last spring. March ’14 New Zealand production was 10.8% higher than the ’11-’13 three year average March production. ’13-’14 YTD (Jun ’13 – Mar ’14) New Zealand milk production is up 7.6% YOY, with additional YOY gains expected in future months. According to the Fonterra May Global Dairy Update, milk collections across New Zealand were up 31% in April ’14. Milk collections in the North Island of New Zealand were 51% ahead of April from last season, which was impacted by widespread drought. Rain brought relief from the dry conditions that had been impacting volumes in the North Island. The South Island continued to experience favorable conditions with milk collections 16% ahead of the same period last season. New Zealand milk production typically peaks in October and gradually declines until seasonal lows are reached in the summer months.