Not Out of the Woods Yet
OPINION: It seems Canterbury processor Synlait is still in the doldrums.
Global dairy prices are clawing back lost ground and farmers may need to thank the weather gods for this.
Dairy prices have fallen to three-year lows thanks to strong supply and weak demand, mainly for whole milk powder (WMP) from China.
There are signs that the Chinese economy is rebounding after Covid-19, but dairy farmers may need to wait a little longer to reap the full benefits from their biggest market.
With less than three months left in the 2022-23 season, the window for farmgate milk prices to lift is closing.
The NZX global dairy update report notes that with demand for dairy products easing slightly during Q4, dairy commodity prices eased throughout, finishing the 2022 year at two-year lows.
OPINION: It seems Canterbury processor Synlait is still in the doldrums.
OPINION: Get offside with New Zealand First leader Winston Peters at your own peril.