New Zealand Dairy Farms have recovered from the 2013 drought even better than had been expected. The milk supply forecast for MY2014 is revised upward to 21.35 million metric tons. Very high prices for Whole Milk Powder late in 2013 going into 2014 has continued the drive upward in WMP production and exports. In MY2014 forecast WMP production has been revised up to 1.37 million MT and exports to 1.34 million MT.
