Australia: Dairy and Products Annual
Milk production is forecast at 9.5 million metric tons in 2019, down 1.6 percent from last year due to unfavorable seasonal conditions in dairy producing regions. Cheese and butter production is expected to be stable at 350,000 metric tons as processors focus on exports, with imports also continuing to increase. Skim milk powder (SMP) is expected to increase by 10 percent to 220,000 MT while whole milk powder (WMP) production is forecast to increase by almost 6 percent. Demand for infant formula is expected to rise, especially from China.