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Milk prices firm
9 May 2005
Australian milk production is tipped to be lower than last season, prices remain firm. For the year to March 2005, Australian milk production was 8.2 billion litres, 0.3 per cent lower than the same period last year, Dairy Australia said. Dairy Australia said milk output had not recovered in the second half of the season despite favourable seasonal conditions. The industry lobby estimates that dairy farmers now have fewer cattle. World prices for skimmed milk powder and butter are weak, but cheese prices are firm. Further cuts to subsidies paid by the European Union to dairy farmers may also support prices.
The Age, 09/05/05
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