Displaying items by tag: BNZ

Farmer confidence has fallen sharply over recent months. 

Fonterra’s forecast milk price of $6.40/kgMS looks a lot more achievable now, according to BNZ senior economist Doug Steel.

Dry conditions in the early part of summer are suppressing milk production and squeezing dairy prices higher, says BNZ senior economist research Doug Steel.

The risk of drought in New Zealand is rising, says BNZ’s senior economist Doug Steel.

Fonterra's forecast milk price of $6.75/kgMS is looking shaky, bank economists agree.

Three bank economists see a risk of downside to farmgate prices from last week’s GDT auction where the overall price index dropped 2.4%.

BNZ is sticking with its $6.75/kgMS milk price forecast – or perhaps a little more – while the ASB says $7/kgMS could be on the cards if rain persists.

Dairy prices have cumulatively eased only 3% after falling in four of the past five auctions, says BNZ senior economist Doug Steel.

Although last week’s GDT price index eased 0.4%, the dairy auction was generally positive, especially the 2.6% lift for whole milk powder (WMP), says ANZ rural economist Con Williams.

BNZ rural economist Doug Steel has dared to mention $7 for the new season milk price, but with very strong notes of caution.