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Emma Higgins, Rabobank
The Chinese Government has unveiled a major stimulus package to revive flagging economic growth, so will this help New Zealand food and fibre exports to the lucrative market?
Rabobank dairy analyst Emma Higgins believes it's still early days.
"We will need to see fundamental positive change to income for consumers and also increase confidence within China before we can get excited about this stimulus package having a significant impact on our food and fibre exports," she told Rural News.
"These announcements are a step in the right direction for these fundamentals to change, however, it's early days."
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Last week's Global Dairy Trade (GDT) auction saw whole milk powder prices rise 3% to US$3559/tonne, its highest average price on the platform for the past 24 months.
NZ dairy analyst Rosalind Crickett says future prices could be linked to the Chinese stimulus package.
"Looking ahead, there are a variety of factors at play to keep an eye on, particularly with the economic stimulus efforts by the Chinese government and the implications it will have on its domestic production and imports."
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RaboResearch, the research arm of specialist agriculture industry banker Rabobank, sees positives for the Alliance Group in its proposed majority-stake sale to Ireland's Dawn Meats.
Following recent storms in the region, the 69th edition of the Tour of Southland cycling event has been postponed.
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