May 19, 2009
New Zealand milk output seen up by 8.3 percent
Total milk production in New Zealand is seen to increase by 8.3 percent in 2009 marketing year, reports the US Department of Agriculture.
New Zealand inventories reportedly peaked in February and March at an estimated 175,000 to 200,000 tonnes more than normal. As prices fell, customers started coming back into the market at the end of January 2009. While whole milk powder exports during the first three quarters of the current marketing year are running at 7 percent behind last year at 441,000 tonnes, they surged 32 percent in March compared to March the previous year. Whole milk powder production is still forecast at 710,000 tonnes but exports have been adjusted downward by 80,000 tonnes to a total of 620,000 tonne.
For more of the USDA report, please click here.
