Full Year Results Investor Presentation 2023
MILK PRICE
$10.00
$8.00
$0.27
$0.25
$0.18
$6.00
MILK POOL
No. of
Farms
$0.29
300
$0.27
250
200
150
$4.00
$6.40
$7.05
$7.55
$9.30
$8.22
100
$2.00
2018/19
2019/20
2020/21
Average base milk price
2021/22
2022/23
Incentives
50
2020/21
2021/22
2022/23
No. of South
Island Farms
No. of North
Island Farms
2018/19
2019/20
South Island
kgMS
North Island
kgMS
RAW MILK PROCESSED
kgMS
(millions)
kgMS
(thousands)
100.0
90,000
90.0
80,000
80.0
70,000
70.0
60,000
60.0
50,000
50.0
40,000
40.0
30,000
66,066
70,472
82,737
78,934
76,007
30.0
20,000
20.0
10.0
10,000
Total average milk payment of $8.49 per kgMS.
Average base milk price for 2022/23 season is $8.22
per kgMS.
Average incentive payment paid per kgMS for the
season was 27 cents per kgMS (2021/22: 29 cents per
kgMS) made up of incentives and winter milk payments.
Forecast base milk price for the 2023/24 season is at
$7.00 per kgMS.
North Island farmer suppliers responsible for 13% of total
milk supply or 63 farms.
South Island milk pool grew by 1.6 million kgMS in the
2022/23 season due to eight additional farms, partially
offset by (1.5%) lower production on average per farm due
to unfavourable climate conditions and high on-farm cost
inflation. 2021/22: 212 South Island farms, 2022/23: 220
South Island farms. South Island supply pool has decreased
to 215 farms for the 2023/24 season.
North Island milk pool contracted by (0.5) million kgMS, due
to two farms leaving the pool and (1.0%) lower production on
average per farm. Total farms 65. 2021/22: 65 North Island
farms, 2022/23: 63 North Island farms. North Island supply
pool has decreased to 59 farms for the 2023/24 season.
Lead With Pride™ certified farms grew to 210 in 22/23
(21/22: 191 farms).
PAGE 30
FY 19
FY 20
FY 21
FY 22
FY 23
FULL YEAR RESULTS INVESTOR PRESENTATION 2023View entire presentation