Plant-based bubble bursts
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While there are predictions that NZ's farming sector could be in for a bumper year on the prices front, there's a warning to 'put the champagne on ice'.
Rabobank and the ANZ Bank agree that the outlook for dairy and meat for the coming year is positive, but both also have some words of warning.
Raboresearch's Emma Higgins notes that this month's weak whole milk powder result was extremely interesting.
Rabobank has joined the group of milk processors and banks forecasting a milk price of $8-plus for the new season.
Dairy prices at last week's Global Dairy Trade auction remained largely unchanged but the news remains positive for New Zealand dairy farmers.
Fonterra chief executive Miles Hurrell says results of the last two dairy auctions reflect volatility in the global markets.
New Zealand's ag sector is “travelling astoundingly well” amid global turbulence and is poised for a profitable 2021, according to Rabobank’s outlook for the coming year.
Amid significant global turbulence, New Zealand agricultural producers are poised to enjoy a fifth consecutive year of general profitability in 2021, according to a new report by Rabobank.
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