date:Dec 29, 2015
ill see milk production falling heavily in New Zealand. But we now anticipate that recent investments and less worse milk prices than expected will only allow for a small slowing in EU milk production momentum through the first half of 2016.
We forecast big-seven export production growth to contract just 0.1% year on year in the period.
At the same time, lower pricing and some improvements in income growth will foster improved buying in deficit regions.
These dynamics will see excess inventor