{"id":13396,"date":"2014-12-28T00:00:00","date_gmt":"2014-12-27T11:00:00","guid":{"rendered":"https:\/\/www.farmersweekly.co.nz\/3-growth-in-milk-supply-forecast\/"},"modified":"2014-12-28T00:00:00","modified_gmt":"2014-12-27T11:00:00","slug":"3-growth-in-milk-supply-forecast","status":"publish","type":"post","link":"https:\/\/www.farmersweekly.co.nz\/news\/3-growth-in-milk-supply-forecast\/","title":{"rendered":"3% growth in milk supply forecast"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

In its Situation and Outlook for Primary Industries Mid Year Update – December 2014 the Ministry has revised its milk production forecast to +3% for both the 2014-15 and 2015-16 seasons. The forecast assumes "normal climatic conditions, and continued increases in cows numbers and on-farm productivity". The report makes no reference to whether the low farmgate milk price will impact milk production.<\/p>\n

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Source: MPI<\/p>\n<\/div>\n

Dairy export revenue is forecast to drop by 23.5% in the 2014-15 season to $13.8 billion. MPI has identified that a 10c fall in the farmgate milk price will decrease farmgate revenue in the Waikato by $46 million.\u00a0<\/p>\n

MPI has revised its farmgate milk price forecast for the current season to $4.82\/kg milksolids (kgMS). This compares to Fonterra's current milk price forecast of $4.70\/kgMS and the AgriHQ milk price forecast<\/a> of $4.20\/kgMS.<\/p>\n

Dairy commodity prices are expected to begin to increase in the first half of 2015. "We expect international dairy prices to remain low in 2014-15, with a gradual recovery from the first half of 2015 as growth in demand shifts to exceed supply in key markets".\u00a0<\/p>\n

"We expect that the stockpiles [of dairy products] will be used in the March 2015 quarter, and that this will result in increased demand and some correction in global prices from the June 2015 quarter".<\/p>\n

Click here to download the:<\/a><\/p>\n

Situation and Outlook for Primary Industries Mid Year Update – December 2014<\/span><\/a><\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"The NZ Ministry of Primary Industries (MPI) is forecasting 3% growth in NZ’s milk supply this season and next.\n","protected":false},"author":33,"featured_media":13397,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[3],"tags":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t