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Rural Bank's mid-year outlook forecasts a modest 0.5% rise in Australian dairy production for 2022/23, helped by good seasonal conditions after an extended La Niña. Farmgate prices are expected at A$8.50–9.80/kg MS, averaging A$9.21.
Global milk supply is expected to stay constrained until at least late 2022 across Europe, New Zealand, Argentina and the US.
Constrained global supply keeps farmgate and export milk prices elevated, while Australia's modest production gain limits how much that tightness can ease.
afdj.com.auelizabethJul 6, 2022After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
