Milk production likely to remain stable
Dairy Australia’s September 2022 Dairy Situation and Outlook report indicates the season is gaining momentum. According to the report, milk production is likely to remain stable this season, with farmgate prices remaining high.
Weather and workforce remain issues for the industry. A third consecutive La Niña weather event is likely, which may increase homegrown feed production, but wet conditions will be challenging for farmers who have already received higher than usual rainfall.
A smaller global milk pool is forecast due to droughts, high input costs and farm exits in the northern hemisphere. This may offer opportunities for Australian exporters.
(T1, D1)
