New Zealand’s milk production jumped 8.4% YOY in May on a solids basis, reportedly the largest May production recorded. With May production, season 2022/23 finished 0.2% ahead of the season prior on a solids basis. May production also rose on a volume basis, up 7.4% YOY but with seasonal volumes 0.5% below the previous season’s output. The 2022/23 made a remarkable comeback with a wet summer, flooding and Cyclone Gabrielle improving soil moisture after mid-season production lagged 2.8% behind the prior year comparative on a solids basis.

NZX forecasts production for the 2023/24 season will be 1.8% higher than 2022/23, influenced by the latest months of growth, however, notes that is it is too soon to present an accurate prediction. NZX says June production is likely to be higher YOY with moisture and temperature positive so far.