Australia's authority on agriculture, mining and mineral economics and rural Sciences (ABARES) expects 2016/17 with a decline in the domestic milk production by 3% in marketing. Reasons for this are the revised forecast of the world's largest dairy exporter Fonterra and an increase in the cattle slaughter.
The weaker prognosis of the Michproduktion of the fourth biggest dairy exporter could support world prices. Currently expected for the marketing year 2016/17 (July - June) with a milk production from 9.5 million litres. The March forecast was 9.8 million liters.
Earlier, Australia's dairy farmers warned that the ruinous fall in milk prices will have an increase in the cattle slaughter resulted and will eventually lead to a decrease in milk production. The Government announced that it will set up a loan program in the amount of $ 500 million.
ABARES prognosis of beef exports increased 2% in 2016/17, she, with favorable weather forecasts for the East coast of the country, which support the recovery of the livestock industry. Currently the forecast is 1,10 m tonnes (March forecast: 1.08 million tons).
