The record export levels achieved in MY2012/13 were not repeated in MY2013/14, which ended up with higher stocks. Dried fodder production forecasts for MY2014/15 are positive based on increased area planted to alfalfa and favorable weather conditions during crop development and throughout the beginning of the harvest season. Marketing opportunities for dried fodder in the domestic market increase driven by a tepid recovery of the dairy herd. Additionally, the recently signed agreement with China opens the door to increased exports.
