Dairy sector profit still on the table, but margin gap tightens
DairyNZ’s latest Econ Tracker update shows most farms will still finish the season in a positive position, although the gap has narrowed compared with early season expectations.
Dairy earnings for the year totalled $13.2 billion.
This was revealed at DairyNZ's annual general meeting in Morrinsville this morning.
The industry employed 40,730 people during the year; 27,830 worked on farm and 12,900 in processing and wholesaling.
The total number of herds reached 11.970; average herd size was 419. Last year the industry had 5 million cows.
Waikato remains the dairy heartland with 34% of the herds.
The North Island had 74% of herds, producing 59% of total milksolids; the South Island 26% of herds but produced 41% of milksolids.
DairyNZ chairman John Luxton chaired his last meeting; he steps down today.
The new chairman will be elected by the board early next month.
