Dairy Australia’s annual statistics recorded farmgate prices averaged $7.19kgMS in 2019/20, reaching $7.01kgMS in Victoria. The number of registered dairy farms at 30 June fell 3% YOY, while the number of cows fell 1% nationally. The loss of cows was much more severe in Queensland where the herd shrank by 17% in the 12-month period.
Drinking milk accounted for over 32% of the industry’s milk in 2019/20, while production of 371,131t of cheese required 39% of national output. Exports accounted for 29% of milk production in 2019/20 compared to 45% a decade before.