Lower milk production in New Zealand and Australia

Milk production in New Zealand and Australia is down at the start of the new season, according to a Rabobank report. A largely absent Chinese buyer is still evident in global markets. According to Rabobank senior analyst, Michael Harvey, there has been plenty of attention on New Zealand’s milk supply as the seasonal peak approaches. “Weather risk was always lurking in the background,” he says. “And some of the risk has started to materialise.” Milk production in New Zealand for Augu