Displaying items by tag: BNZ

Dairy prices extended and quickened their ascent at last week’s GDT auction and were stronger than anticipated, says BNZ senior economist Doug Steel.

Strong milk production in New Zealand is putting downward pressure on global dairy prices.

China's market share of NZ’s primary exports is material and raises the issue of concentration risk, says BNZ rural economist Doug Steel.

Global prices for our primary products are likely to be flat this year but prices may rise for some products, says BNZ rural economist Doug Steel.

With production up 6.5% on last year for the peak of the season, a downward adjustment in Fonterra’s milk price will not be surprising, says BNZ senior economic Doug Steel.

The Global Dairy Trade had its eighth consecutive fall last week putting more downward pressure on Fonterra’s $6.75/kgMS milk price forecast, says BNZ senior economist Doug Steel.

With dairy prices down nearly 13% below levels of a year ago, this adds to the downside risk to Fonterra’s newly minted $6.75/kgMS milk price forecast, says BNZ senior economist Doug Steel.

Fonterra's $7/kgMS opening milk price is at the top end of the range seen by market followers and analysts.

Economists are optimistic of a small rise in this season’s farmgate milk price.

The GDT auction last week was close to expectations, and even included a slightly positive surprise with a 5.5% jump in skim milk powder prices, says BNZ senior economist Doug Steel.