Displaying items by tag: 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.

Would price declines at last week’s Global Dairy Trade auction have been bigger had there not been a downside risk to future NZ production from Mycoplasma bovis and the plan to eradicate it, wonders 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.

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.