Will U.S. Dairy Exports Benefit from New Zealand’s Drought?
For the past decade dairy exports have been growing steadily. Today, world markets soak up roughly 1 in 7 tanker loads of milk produced in the U.S. Could exports increase in the near future? According to a story from Bloomberg, dry pastures in New Zealand could bump U.S. exports.
According to the story, which you can read in full on our sister site agweb.com, the pasture growth index is near the lowest in more than 21 months. The pasture grow index measures grass conditions and growth potential in New Zealand. The poor conditions, caused by years of dry weather, could cause milk production to decrease in the island country. Because New Zealand is the world’s largest dairy exporter, any drop in milk production there could boost demand for U.S. exports.
To read the full story visit www.agweb.com.