An 8% growth rate was achieved by Fonterra’s farmers in the June to May 2013/2014 season. But Fonterra’s Australian farms are down 2% in a season that ends June 30.
According to the Australian Dairy Farmer, yesterday’s Fonterra Global Dairy Update showed that results were variable throughout New Zealand, but a mild winter and spring got farmers off to a good start.
For May (the beginning of winter in the region) milk production was up to 61 million kilograms of milk solids, from 49 million kilograms last year (this would equal 134 million pounds of solids, up from 108 million). For Fonterra’s Australia supply in May, production was also up to 9 million kgMS from 8 million last year (19 million pounds of solids, up from 17 million).
The report also showed strong demand from Russia and China. Russia favors cheese while China’s top purchase is milk powder. China represents 16% of global imports, up 39 percent through the 12 months ending in February 2014. Russia’s imports grew 9% for the same time period.
Source: Australian Dairy Farmer