Domestic Market Updates
Track Australian dairy market updates for some of the latest developments in production, trade and retail sales.
FTA Signed With UAE
Australian and UAE negotiators have agreed on the text of a free trade agreement, just nine months after negotiations began. Over 99% of Australian goods will enter the UAE tariff free under the deal. The agreement has been welcomed by the dairy industry, with...
Green Drought Bites
Dry conditions across south-west Victoria are affecting local business owners with some locals saying it is the worst drought they have ever experienced. Local state MPs are urging Victoria’s agriculture minister Ros Spence to deliver the Regional Drought Resilience...
Consumer Pessimism Bites
The latest Westpac-Melbourne Institute Consumer Sentiment index slipped 0.5% to 84.6 in September, from 85.0 in August. Westpac said consumer pessimism continues to dominate as it has done for the past two years, however, focus is shifting. Cost-of-living pressures...
Rural Bank Expects Milk Drop
Rural Bank expects milk production to decline marginally to 8.3bn litres in 2024/25 compared to the prior season. According to the bank’s latest outlook, seasonal conditions have been positive in eastern states with good pasture growth and steady fodder costs....
Australian Milk Production Up 1.6% in July
Milk production rose 1.6% YOY in July, the fifteenth consecutive month of growth. Victorian milk output rose 2.5% YOY led by a 5.2% increase in Northern Victoria for July. Gippsland output was up 3% for the month, while Western Victorian output +0.2% YOY. July...
Wild Weather Hits The East
Record heat in Queensland, damaging winds in Victoria and Tasmanian floods and wind are connected, according to the Bureau of Meteorology (BoM). Two interconnected weather systems brought with them wild weather from north to south along the east coast. BoM...
Rabo Tips Milk Growth
Rabobank expects Australian milk output to grow 1.5% YOY in the 2024/25 season. Milk output rose 3.1% YOY in the 2023/24 with all states and regions recording growth, except Western Victoria where dry conditions constrained production. RaboResearch senior dairy...
Inflation Moderates in July
The monthly CPI indicator rose 3.5% in the 12 months to July, with food and non-alcoholic beverage prices amongst the largest contributor at +3.8%. The overall annual CPI reading was down from the 3.8% reported by the Australian Bureau of Statistics in June. A key...
Warmer Temperatures Across Australia
Warmer than average temperatures are expected across most of the country from September to November. Average rainfall is expected for the period in the east, according to the Bureau of Meteorology (BoM). Low streamflows are forecast from August to October. Most...
Irrigation Demand Rises
Irrigation orders are peaking in northern Victoria where Goulburn-Murray Water (GMW) irrigators have launched 825 orders since the season opened in mid-August. Irrigators have ordered 21,163ML of water, compared to 3,464ML ordered the same time last year. GMW water...