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November 18th Dairy Update

Monday, 18 November 2013 at 12:16pm

Since our last blog, rain relief eased much of the drought fears through the country.  In addition, the rain and warm temperatures have boosted feed growth and this has resulted in NZ’s milk production being 5-6% ahead of last year.

Many of the Canterbury irrigators appear operating in time for the arrival of the hot drying north-westers.  And many farm advisers are still urging planning for the summer with longer rotations and culling of inefficient cows based on early pregnancy tests.

Many of you would have read in the papers that farmer confidence has lifted on the back of the dairy sector, and this is being seen in the high prices being paid for cows, and a resurgent farm real estate market.

ANZ economists are predicting record milk production that could increase last year’s flow by 7% and inject an extra $4.5 billion into the NZ economy.

Dairy auction prices rose 3.9%, with whole milk powder the dominant milk commodity.  With later contracts now out until June every positive auction locks in the strong predicted payout price and reinforces a standout year for all dairy farmers.