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3 days agoNew Zealand dairy farmers pocket billions from huge capital payout
New Zealand dairy farmers will receive a record NZ$3.9 billion payout amid rising costs from the war in Iran.
"Too much milk for the market, combined with strong milk solids growth, has contributed to a sharp decline in commodity prices," Rabobank senior agricultural analyst Emma Higgins said in a report Thursday, describing the output as "stunning." Global production has accelerated across major exporters. New Zealand farmers set new monthly milk solids records from May to September, with October marking the third-highest peak on record, according to the report. The EU, UK, US and South America have also delivered strong growth.