Export prices set to remain elevated
Horticultural prices are set to remain elevated this year, reflecting the balance between demand in key export markets and an increase in supply.
Last night’s Global Dairy Trade (GDT) auction was disappointing relative to market predictions, says Westpac senior market strategist Imre Speizer.
He notes whole milk powder prices slipped 0.6% to US$3143/MT; this was unexpected as the milk futures market had predicted a 4% rise.
The GDT price index dipped 0.4% compared to the last auction.
Fat-based products- butter and anhydrous milk fat- also slipped; butter down 1.3% and AMF 1.2%.
Skim milk powder was slightly up – 0.3% to US$!968/MT.
Key results
AMF index down 1.2%, average price US$6,199/MT
Butter index down 1.3%, average price US$5,735/MT
BMP not offered
Ched index up 1.4%, average price US$4,005/MT
LAC index down 4.9%, average price US$747/MT
RenCas index up 2.9%, average price US$6,255/MT
SMP index up 0.3%, average price US$1,968/MT
WMP index down 0.6%, average price US$3,143/MT
The Good Carbon Farm has partnered with Tolaga Bay Heritage Charitable Trust to deliver its first project in Tairāwhiti Gisborne.
Education union NZEI Te Riu Roa says that while educators will support the Government’s investment in learning support, they’re likely to be disappointed that it has been paid for by defunding expert teachers.
The Government says it is sharpening its focus and support for the food and fibre industry in Budget 2025.
A European Union regulation ensuring that the products its citizens consume do not contribute to deforestation or forest degradation worldwide threatens $200m of New Zealand beef and leather exports.
A long-acting, controlled- release capsule designed to protect ewes from internal parasites during the lambing period is back on the market following a comprehensive reassessment.
Healthcare appears to be the big winner in this year's budget as agriculture and environment miss out.
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