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Australian milk production fell 4.1% in December to 869 million litres, narrowing the decline from November. Season-to-date output is down 8.5%.
The winter grain crop is estimated at a record 53.7 million tonnes, and abundant hay supply has pushed feed prices down.
Abundant local feed grain and hay supply lowers feed costs for dairy producers, while shrinking milk output limits dairy-side demand for feed.
farmersweekly.co.nzLocal Democracy ReportingJan 28, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
