New Zealand milk increased for the first time this season in September, increasing 1.3% YOY on a milksolids basis. At 210mkg of milksolids September production, it was still 3% lower than the 5-year average for the month to 2023. It brings season to date production 0.4% ahead of the prior year comparative.
On a tonnage basis, milk production decreased 0.4% YOY, the fourth consecutive monthly decline for the season, at 2.497mt. Season to date intake is down 1.0% on the prior year comparative in tonnage terms.
NZX analysts noted the start to the 2023/24 season has been wetter than last year for Waikato with reports that more PKE has been used in the past month, leading to higher fat percentages in the milk produced. It would explain the discrepancy between reported milk solids and tonnage as tonnage has consistently lagged milk solids figures for the first two months of the 2023/24 season.