Milk collections across New Zealand rose 2.9% year-over-year in August to 102.8m – a new August record for Fonterra. Seasonal output is tracking 4.1% ahead of the prior-season comparable.

Strong early season production in the South Island due to favourable weather supporting pasture growth lifted production 9.4% YOY to 30.2m. Season-to-date output is +8.3% ahead of the prior year. In the North Island, August production gained +0.4% YOY to 72.7m kgMS, with seasonal production at +2.7%.

El Niño brings risk to the second half of the 2026-27 season across the North Island. The weather system presents less risk to South Island milk production but is expected to bring wetter condition to the lower parts of the island, according to Fonterra.