Warm Temperatures See Dairy Production Levels Dive
NEW ZEALAND - Hot weather earlier in the year is being blamed for a marked drop in dairy production during March, compared with the same period last year.
2 May 2019
1 minute read
Milk solids production fell 7.5 percent from a year ago, taking it to the lowest level of March production in six years, according to a new ASB commodities report.
ASB senior rural economist Nathan Penny said it was a dramatic change from just two months ago in February, when production was up 7.7 percent on 12 months prior.
"With strong growth in previous months, we are still on track for a good season - though a weaker one than previously expected," he said.
He said it's meant a rethink of production expectations.
"We had thought that production growth would hit 3 percent in the 12 months to May, but given the sudden slowdown, risks have grown that production could undershoot that," said Mr Penny.
Production is also slowing in other jurisdictions, supporting global milk prices.
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Source: Newshub
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