New Zealand: Dairy and Products Semi-annual
In a surprise turnaround, New Zealand's 2017 milk supply is forecast to reach 21.9 million metric tons (MMT), which would surpass the record production of 2014. This is 3.5 percent above Post’s initial forecast. Higher than expected cow numbers, favorable weather, and optimal pasture conditions and availability are behind this production boost. The record production will translate into higher total dairy production, which is forecast at 3.14 MMT. Total exports, including liquid milk, are forecast to reach 3.34 MMT, a 1.5 percent increase over 2016.
