MADISON - Jan 22/15 - SNS -- The USDA published its latest review of dairy market conditions in Australia and New Zealand today.
OCEANIA OVERVIEW: Australian milk production continues on its typical seasonal decline. Dry conditions were alleviated, to some degree for some dairy producers, as significant rains covered much of the dairy region in Victoria. The hay market has been quiet with prices easing marginally. Overall supplies for the coming season are anticipated to be below normal. Dairy commodity supplies for some manufacturers are committed for the near term. New Zealand's milk production is declining at an accelerated pace. Dry conditions over both islands are beginning to prompt discussions about drought with some comparisons being made to the Q1 2013 decline in milk production. Conditions are more severe on the South Island where some irrigation systems are being shut down, due to low river levels. New Zealand cooperatives have revised their seasonal forecasts with seasonal production now estimated to be ranging from flat to 1.5% above last year's production. Rains are forecast in the coming week, but the impact of these rains on milk production will be marginal at best as farmgate prices remain low and are a disincentive for producers to extend the milk production season. At the January 20 GDT event #132, average prices ranged from 6.4% lower to 3.8% higher from the prior event across categories. The all contracts price averages (US$ per MT) and percent changes from the previous average are: anhydrous milk fat, $4,286 -5.0%; butter, $3,564 +0.1%; buttermilk powder, $2,559 -6.4%; cheddar cheese, $2,961 -4.3%; lactose, n.a.; rennet casein, $8,159 +3.3%; skim milk powder, $2,389 +1.0%; sweet whey powder, $1,155 - 4.1%; and whole milk powder, $2,402 +3.8%. 0930C rick.whipp@ams.usda.gov 608.278.4151 USDA/AMS/Dairy Market News, Madison, Wisconsin Dairy Market News website: www.ams.usda.gov/dairymarketnews Dairy Market News database portal: http://www.marketnews.usda.gov/mnp/da-home
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STAT News Service
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