Cut with care
OPINION: The new government has clearly signalled big cuts across the public service.
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.
Price signals for New Zealand farmers all point to healthy margins for dairy producers despite the slight drop in the GDT Event price index of 0.8% last week, says Rabobank dairy analyst Emma Higgins.
A new Global Dairy Trade Marketplace platform launched a year ago has attracted registered sellers from Europe, USA, Asia and Oceania.
Fonterra has announced an opening forecast of $6.50/kgMS for the 2017-18 season which starts June 1.
After five consecutive increases in Global Dairy Price (GDT) auctions, a $7/kgMS opening forecast for the new 2017-18 season is feasible.
There's scope for a small lift this season in Fonterra’s farmgate milk price after the GDT Event price index rose 3.1% last week, says BNZ senior economist Doug Steel.
OPINION: The new government has clearly signalled big cuts across the public service.
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