Fonterra milk collection was down 7.0% YOY to 126.9m kgMS in February according to the latest Global Dairy Update.

North Island collections dropped 8.9% YOY for the month, taking season to date output 4.6% behind last season. Despite recording an overall fall in February output, North Island collections were stronger in the latter half of the month, approaching last year’s favourable milk volumes on a day-to-day basis. Collections in the South Island were 4.8% lower in February compared to the year before, with collections for the season so far 3.1% behind the prior year. Hot, dry weather has preceded unseasonable colder, wetter conditions leading to lower milk output.