Dairy Australia have released their June 2020 Situation and Outlook Report. This latest report describes how one of the best autumn breaks of recent times has supported a recovery in national milk production and boosted dairy farmer confidence in many regions, against a backdrop of uncertainty in dairy markets from COVID-19.
After a challenging start to the season national milk production has increased year-on-year for the past five months to April. The milk production recovery remains localised and is mainly driven by strong growth in Tasmania and Victoria. Challenges remain for farmers in some areas after two years of dry conditions and high costs.
Despite generally improved seasonal conditions, Australia is not immune to the growing headwinds facing global markets. Internationally, the spread of COVID-19 has slowed exports, upset global markets and saw commodity prices drop. Whilst the initial panic that followed the outbreak has begun to settle, global dairy demand remains under pressure.
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Article sourced from https://www.dairyaustralia.com.au/