Genetic parameters for the relation between the traits of milk yield (MY), age at first calving (AFC) and interval between first and second calving (IBFSC) were estimated in milk buffaloes of the Murrah breed. In the study, data of 1578 buffaloes at first lactation, with calvings from 1974 to 2006 were analyzed. The MTDFREML system was used in the analyses with models for the MY, IBFSC traits which included the fixed effects of herd-year-season of calving, linear and quadratic terms of calving age as covariate and the random animal effects and error. The model for AFC consisted of the herd-year-season fixed effects of calving and the random effects of animal and error. Heritability estimates MY, AFC and IBFSC traits were 0.20, 0.07 and 0.14, respectively. Genetic and phenotypic correlations between the traits were: MY and AFC = -0.12 and -0.15, MY and IBFSC = 0.07 and 0.30, AFC and IBFSC = 0.35 and 0.37, respectively. Genetic correlation between MY and AFC traits showed desirable negative association, suggesting that the daughters of the bulls with high breeding value for MY could be physiological maturity to a precocious age. Genetic correlation between MY and IBFSC showed that the selection of the animals that increased milk yield is also those that tend to intervals of bigger calving.