A dairy market & cost of production update from New Zealand

After another less than cheery milk market report from Chris this week, Will and Ben are joined by Phil Journeaux, an agricultural consultant and economist with AgFirst Waikato & John Allen, Director at Kite for an update on dairy in New Zealand. Firstly, looking back at last season for some context, Phil moves on to give some insight into outlook for this season, talking costs, inflation, interest rates and Cost of Production for NZ farmers. With John bringing it back to the UK, comparing the situation here and looking onto later this year in the UK, discussing volatility in the markets with Chris. We couldn’t cover all of this without discussing what farmers are doing to mitigate some of these negative impacts and the importance of business resilience and keeping a level head in down cycles.