There has been more muted competition for milk at the opening of the 2024/25 season, according to the Rural Bank’s latest update.

The average opening price for 2024/25 of around $8.10kgMS is still the third highest opening price on record although behind the last two season. It also narrows the gap between Australian and New Zealand farmgate prices. With Australian farmgate prices close to +10% higher than New Zealand’s 2024/25 price forecasts, Rural Bank expects Australian dairy product will be more competitive in domestic and export markets. However the Bank still foresee

In its cropping report, Rural Bank expects grain prices to decline as the latest ABARES crop report forecasts a sharp increase for Australia’s winter crop production, up almost +10% YOY. Winter crop planting  90% complete with Queensland and NSW off to a positive start, while WA, SA and Victoria have all had challenging starts to the season.