increase font size
Don't get excited just yet.
Economists aren't too excited about last week’s 2.2% overall lift in the Global Dairy Trade price index.
Anne Boniface, Westpac senior economist, says there was a 2.5% lift in whole milk powder prices, while butter and AMF prices also rose, partially unwinding the big falls seen in the previous auction. But the lift did not fully unwind the weaker dairy prices through November.
“Local conditions for most dairy farmers remain very favourable, and strong momentum in New Zealand milk production likely continued in November.”
Westpac is picking a $6.10/kgMS milk price for the season. “As we’ve noted previously, this forecast continues to assume we see a modest improvement in dairy prices in early 2019, with the risk of a further downward revision if this fails to eventuate in the coming months.”
ASB’s senior rural economist Nathan Penny says the rise snapped a run of seven consecutive falls.
“Nonetheless, we are suspicious. First, the rise is similar to falls in the US currency over the past fortnight. In particular, the Chinese yuan has lifted, making the USD-priced products cheaper for Chinese buyers.”
Global Dairy Trade (GDT) and Arla Foods have announced that Arla will begin offering European-sourced skim milk powder (SMP) on GDT Pulse from May 2025 as part of an extension to the GDT Pulse pilot.
A global trade war beckons, which is bad news for a small open economy like New Zealand, warns Mark Smith ASB senior economist.
Horticultural prices are set to remain elevated this year, reflecting the balance between demand in key export markets and an increase in supply.
ASB's new head of food and fibre, Kristen Ashby, believes that there’s “heaps of opportunity” in the agriculture sector.
Dairy and beef farmers could be eligible for lower interest lending options for financing Halter on their farms, with ANZ, ASB and BNZ now offering a pathway to sustainability loans for New Zealand’s largest virtual fencing provider.
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.
OPINION: Last week's announcement of Prime Minister’s new Science and Technology Advisory Council hasn’t gone down too well in the…
OPINION: At its recent annual general meeting, Federated Farmers’ Auckland province called for New Zealand to withdraw from the Paris…
