MADISON - Aug 6/15 - SNS -- The USDA published its latest review of dairy market conditions in Australia and New Zealand today.
OCEANIA OVERVIEW: Heavy milk volumes have lowered milk prices. Farmers in Australia are looking to decrease input costs as milk prices are projected to remain low through Q2 2016. Production is up slightly from last year. The colder weather in New Zealand has slowed production, but has started to rise slightly. Some dairy products processors are looking to increase exports as there are some buyers refilling pipelines. Crop production yields in Australia are expected to be stable to increasing. Dairy Australia reports that Australia's milk production season July- June) is +2.6% compared to last season. The season changes from one year earlier are: New South Wales, +4.3%; Victoria, +1.9%; Queensland, -6.4%; South Australia, +0.1%; Western Australia, +6.5%; and Tasmania, 10.1%. Victoria and Tasmania are the primary export producing dairy states and accounted for 75% of Australia's total milk production in the 2014-15 season. June 2015 milk production in Australia was 0.1% above June 2014. The state changes from a year earlier are: New South Wales, +0.3%; Victoria, -0.4%; Queensland, -7.1%; South Australia, +1.5%; Western Australia, +14.3% and Tasmania, unchanged. At the August 4 GDT event #145, average prices ranged from 14.4% lower to 0.2% 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, $2,253 -11.7%; butter, $2,293 -6.1%; buttermilk powder, $1,700 -5.1%; cheddar cheese, $2,663 +0.2%; lactose, $535, no change; rennet casein, $5,289 -2.7%; skim milk powder, $1,419 -14.4%; and whole milk powder, $1,590 -10.3%. 0930C Tara.Herbst@ams.usda.gov 608.557.7007 USDA/AMS/Dairy Market News, Madison, Wisconsin Dairy Market News website: http://www.ams.usda.gov/market-news/dairy Dairy Market News database portal: http://www.marketnews.usda.gov/mnp/da-home
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