This year's Australian Dairy Annual Review has been released and forecasts a positive outlook for growth and profitability in the sector, albeit advising this may be tempered by forecasted limited rainfall.
Australian milk supply rose in 2017/18, however supply didn’t keep up with demand. If the increasing demand for Australian dairy products is met it could equal improvements in farm gate milk prices with a forecasted average milk price of $6.10/kg MS in 2018/19.
Global dairy prices should continue to improve with international exports of milk powder continuing to drive value in China and emerging markets Thailand and Japan.
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