Fonterra’s season-to-date milk collection is nearly 5% ahead of last season’s, and the spring peak month of October was up 2.5% on October 2023.
Peak daily collection occurred in late October, although the volume has not yet been published by Fonterra.
Fonterra’s Global Dairy Update for November said the giant co-operative collected 205 million kilograms of milk solids in October, which is equivalent to a little over 80 million litres a day.
Based on the current advance payment rate schedule of $7.20/kg paid in November for October production, Fonterra recently sent out to its farmers’ bank accounts close to $1.5 billion.
Season-to-date collections are 512.2 million kg MS, representing $3.7bn in farmgate milk payouts so far.
Dairy Companies Association of NZ (DCANZ) figures published by NZX Dairy Insights were for October production of 261.5 million kg, of which Fonterra collected 78.5%.
Season-to-date NZ has produced 654 million kg.
DCANZ said NZ production was up 2.8% in October, up 5% in September and up 9-10% in July and August.
Fonterra Australia milk production was up 1.4% in September and up 3.4% for the 12 months to end September.
European and United States production were both near static over the past 12 months compared with the year before.
Fonterra said favourable weather conditions in the North Island boosted milk production by 5.9% season to date compared with only 2.6% in the South Island, being especially slow in Southland.
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