The Australian dairy industry rallied to new highs in 2004/05 to set new highs despite the lingering effect of drought according to the latest edition of the Dairy Australia Australian Dairy Industry In Focus publication released today (Friday).
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Milk prices and productivity improved while cheese exports soared to record levels.
The price farmers received for milk in each state was significantly higher, the biggest rise of AUD3.57 (US$2.63) to AUD4.23 per kilogram of milk solids occurred in Victoria.
While the number of dairy farms consolidated at an estimated 9,256 nationally, the average annual milk production per cow rose to its highest level in two years at 4,983 litres.
Collaborative market access work with industry bodies such as Australian Dairy Farmers and Australian Dairy Industry Council proved beneficial, with export cheese volumes rising to a record 227,500 tonnes, up 7% in volume and 19% in value on the previous year.
Dairy farm financials also lifted. According to preliminary data from the Australian Bureau of Agriculture and Resource Economics, the average farm cash income in the period reached almost AUD80,000 – up from AUD60,000 in the preceding period.
Dairy Australia and its predecessor organisations have been collecting industry data for more than a quarter of a century.
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By GlobalData
