Farmgate Milk Price Revised Up To $9.20 For 2026/27

ANZ has upgraded its 2026/27 farmgate milk price forecast to $9.20/kgMS due to firm global prices and a favorable exchange rate. However, rising diesel and fertilizer costs stemming from Middle East geopolitical tensions are expected to squeeze farm margins.

Key Takeaways

• 1.ANZ has revised its 2026/27 farmgate milk price forecast up to $9.20/kgMS from $8.70/kgMS.
• 2.Input costs (diesel, fertiliser) are rising significantly due to the Middle East conflict, squeezing dairy farm profit margins.
• 3.The 2025/26 season forecast remains unchanged at $9.85/kgMS, signaling a strong performance for the concluding year.

Table of Contents

• Summary
• Bearish outlook, but season starting on firm ground
• Input costs will be higher next season
• 2025/26 wraps up
• Meet the team
• Important Notice

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