The Australian milk supply is going relatively well this year. Australian milk production grew in the first months of 2024. Favorable weather conditions and stable costs, among other things, provide optimism among dairy farmers, who benefit from strong milk prices and increasing dairy sales.
The milk supply in April this year amounts to 591,8 million liters, 2,5% higher than in the same month last year. Compared to the five-year average of 604,57 million liters, milk production in April is still slightly behind. Over the past two years, the Australian dairy sector has been hit by drought and low milk prices, which has left its mark on the dairy industry.
The upward movement in production means that the milk supply in the first four months of 2024 will also be higher than in the same period of the past two years. This year's milk supply will amount to more than 2,5 billion liters from January to April. This was about 2,4% lower in the same period last year at just over 4,5 billion liters. The milk supply in 2022 was exactly in between.
Australian milk production therefore appears to be heading in the right direction. The moderate weather conditions are giving milk production a boost, trade organization Dairy Australia writes in their latest report. Dairy sales on the domestic market are also going well with increasing sales volumes of dairy products, which has a positive effect on the milk price. “There is confidence in the Australian dairy industry in the most stable period of the last decade,” writes Dairy Australia, as outlined in the 2024 National Dairy Farmer Survey.