Milk production growth slows down in Oceania

Milk production growth in New Zealand and Australia has slowed in recent months, although cumulative collections remain strong, supported by earlier gains and improvements in milk composition. While favorable farmgate prices continue to support production incentives, rising input costs, uneven commodity price developments, and the prospect of El Niño conditions could weigh on farmer confidence and production decisions, raising questions about whether the region can sustain its strong performance through the remainder of the season.