Australia’s milk supply will end the current season 2.6% ahead of the prior season according to Rabobank while 2024/25 intake is expected to grow in the range of 3-4%.

Favourable weather conditions with record rainfall from the spring and into January 2024 are expected to lift production. The bank  expects a “strong 2024” for Australian dairy farmers, citing elevated milk prices and margin supportive pricing from 1 July.