On July 28 the co-operative lifted the milk price for its Australian suppliers by 0.20 Australian Dollars, pushing the average amount paid to AUD 5.50/kgMS. Some agricultural lenders expect the higher income will result in reduction of existing debt, as well as further producer investment into their farms.
The new dairy season in New Zealand started in June with a milk production 21.09% higher than June last year. However, this percentage may be misleading, because June is usually the month with the lowest production in the year.
– Assessments about market trend are expressed in US$;
– Dairy season: July, 1st – June, 30th (Australia), June, 1st – May, 31st (New Zealand);
– Source: USDA summarized by the CLAL Team