# September milk production growth rate slows

> New Zealand's milk production growth slowed to 1.9% year-on-year in September, according to Fonterra's October Global Dairy Update. The 12-month figure eased to 4.3%, and the season-to-date collection is up 2.9%.

- Date: 2026-11-02 · published 2026-11-02T03:07:35.416Z
- Category: report · region New Zealand · magnitude low
- Page: https://feedsoft.ai/events/74646-september-milk-production-growth-rate-slows
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A slowing New Zealand milk supply with El Niño looming tightens expectations for global dairy supply growth, which supports milk prices and reduces the case for lower-cost dairy inputs for feed buyers.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2019-03-26 | [Milk production continues to slow](https://feedsoft.ai/events/60104-milk-production-continues-to-slow.md) | +0.1% | +5.8% |
| MILK | 2026-06-15 | [Global dairy markets heading towards ‘balance’ as milk production growth slows](https://feedsoft.ai/events/18813-global-dairy-markets-heading-towards-balance-as-milk-production-growth-slows.md) | +0.1% | -1.4% |
| MILK | 2024-02-09 | [USDA projects lower milk production – KORN News Radio](https://feedsoft.ai/events/31685-usda-projects-lower-milk-production-korn-news-radio.md) | +0.4% | +2.8% |
| MILK | 2019-09-19 | [U.S. milk production growth remains small in August - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/57060-u-s-milk-production-growth-remains-small-in-august-progressive-dairy-ag-proud.md) | +0.1% | +2.0% |
| MILK | 2024-03-25 | [Terrain \| Margins Improve, but Not Enough to Spur Milk Production Growth](https://feedsoft.ai/events/31204-terrain-margins-improve-but-not-enough-to-spur-milk-production-growth.md) | -0.4% | -5.1% |

## Sources

- farmersweekly.co.nz: https://www.farmersweekly.co.nz/markets/dairy-markets/september-milk-production-growth-rate-slows/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.