Fonterra updates NZ milk forecast

by | Jan 12, 2022 | Global, Volume trends

Fonterra has revised its 2021/22 forecast New Zealand milk collections to 1,500m kgMS, down from its opening forecast of 1,525m kgMS. Varied weather and challenging growing conditions in parts of the country early in the season saw milk output dip year on year. Conditions did not improve over Christmas and New Year, forcing Fonterra to revise its forecast down by 1.6%. Fonterra’s forecast intake is 2.5% down compared to the 2020/21 season.

Meanwhile, DCANZ reports New Zealand milk production was down 1.2% YOY in milksolids terms in November and 1.5% on a volume basis. November marks the fourth consecutive month of year on year falls in milk production, with season to date milksolids output down 2.6% YOY.