Displaying items by tag: Doug Steel

Prices for milk fat are soaring and you can thank consumers worldwide for it.

After five consecutive increases in Global Dairy Price (GDT) auctions, a $7/kgMS opening forecast for the new 2017-18 season is feasible.

Chinese national holidays could have affected last week’s Global Dairy Trade auction, in which the overall price index was down 3%, say economists.

Last week's GlobalDairyTrade result indicates China is back in the market and New Zealand supply is tightening, says Doug Steel, BNZ senior economist.

Farmgate milk price forecasts by at least two banks, ASB and BNZ, have now been hiked upwards to $5/kgMS for the 2015-16 season.

Farmgate milk price forecasts by at least two banks, ASB and BNZ, have now been hiked upwards to $5/kgMS for the 2015-16 season.

Milk prices were down again in international markets last week but the New Zealand dollar’s drop means prices are up in our money.

Farmers should expect “something around $5.00/kgMS” when Fonterra this week announces its opening forecast for the new season.

THE IMPACT of Russia’s dairy ban on global dairy prices may be waning. The emergence of a ‘grey market’, allowing some Russian allies to buy milk from Europe and re-export it to Russia, is easing downward pressure on prices.