The number of Australian dairy farms fell to 3,889 in 2023/24 down from 4,163 the prior year. The number of cows fell 1.2% to 1.33m, giving an average herd size of 342 according to Dairy Australia’s (DA) In Focus report for 2023/24.

Cheese continues to be the major use of milk, accounting for 41% in 2023/24 followed by drinking milk which accounted for 32% of output. DA estimates 32% of milk production was exported in 2023/24. China remains the most important international market for Australian dairy products,  accounting for 30% of export value and 26% of value, followed by Japan.