Dairy News

Opening prices high

By Geoff Adams

Record opening prices should support better cash flow at the start of the dairy season, Internaional bank, Rabobank has found in its monthly agribusiness update.

Dairy analyst, Michael Harvey reports national milk production, down to about 13 per cent in May, and a projected annual national drop of about eight per cent.

Mr Harvey noted that some processors had been lifting their forecast opening prices in response to competition.

While margins are looking better for dairy farmers, the national herd will take some time to rebuild.

Oceania commodity dairy prices fell during June.