While Australia's milk production for 2005/06 fell behind that of the previous year, the new season in the US is booming and looks likely to create a surplus. The market trends are not positive for Europe, as a strengthening Euro is making its dairy products unattractive to buyers. Australian market. The 2005/06 season has ended, with Australian milk production marginally below last year, at around 10 billion litres, writes Dairy Australia's Industry Analyst-Australia,The lack of volume growth reflects continuing constraints on the number of cows milked across the industry. However, 2005/06 has been a positive season for the industry, as many dairy farmers have used the higher returns of the past two years to consolidate their dairy businesses, repay debt and improve their financial position. They are generally more confident about the industry's future and focused on making more money from their farm business rather than simply producing more milk.
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