An unexpectedly rainy summer across much of Australia's east coast has proved a windfall for dairy farmers, yet this hasn't translated into significantly cheaper prices for consumers.
across much of Australia's east coast has proved a windfall for dairy farmers, yet this hasn't translated into significantly cheaper prices at the supermarket checkout.was up 2.5 per cent in the second half of 2023, according to an analysis by Rabobank released today.
Rabobank forecasts that the 2023-24 season will end with milk production up 2.6 per cent and that is likely to rise as much as 4 per cent heading into the next financial year.While milk prices have crept down from record highs in 2023, the price of dairy remains up 20 per cent from pre-inflationary levels.