Richard Allen
speaker
173 appearances
2 recordings
1 series
first heard Jul 2026
last heard 13 Jul
Richard Allen’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 2.
Appearances
Yeah, look, we've seen prices decline on the global dairy trade auction about 11% since we came out with the opening forecast in May.
That's largely off the back of two things.
We have seen demand softer than we were probably anticipating, but also right around the world, including here in New Zealand, we've seen very strong milk supply growth over the last 12 to 18 months.
So we had a bumper season last year here, just over 4% growth there.
US, Europe also growing strongly.
So that just puts more product into the market.
Overall, demand is still there.
It's just not quite as strong as we thought it was going to be.
Probably a bit of both.
Dairy does have the tendency to overreact a little bit.
So we will probably see supply come off.
We're already starting to see that in terms of some of the heat impacts in the EU and the US starting to bring milk off.
Demand was starting to look quite good.
Obviously, the disruption in the Middle East impacts consumer sentiment.
So we have started to see that flow through a little bit.
But overall, we're still in a pretty good position.
Look, I mean, it's very early in the season and so we're probably all wrong, I'd say.
You know, there's a lot of water to go under the bridge in terms of milk to be sold across the season.
Every dairy season I've been in, there have been twists and turns that we didn't quite expect.
So there will be twists and turns this season.
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