John Hogan

1
Outlook for dairy

• John Hogan
• Australian Bureau of Agricultural and Resource
  Economics

2
World dairy product prices
US/t
In 2005-06 US values
Cheese
SMP
Butter
3
Short term factors in 2006

• Drought in Australia
• reduced water allocations
• EU and NZ milk production
• little growth
• Demand in major importing
• continuing to rise strongly
• World dairy prices
• strong recovery

4
World dairy product prices
US/t
Cheese 17
SMP 53
Butter 25
5
World dairy product prices
US/t
In 2006-07 US values
Cheese
SMP
Butter
6
Australian dairy
c/litre
BL
Milk price
Milk production
7
Australian dairy regions
6
4
7
12
25
65
6
8
Water allocations Northern Victoria
9
Water allocations Southern NSW
10
Australian export earnings
In 2006-07 A values
Am
11
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