Displaying items by tag: markets

Oversupply is still the underlying weakness affecting dairy prices, says ASB rural economist Nathan Penny.

The weakening New Zealand dollar helped local prices this week with most types increasing by the corresponding currency change, says NZWSI general manager, John Dawson.

The first wool auction of the 2015/16 season saw a 92% clearance with a slightly softer tone, says NZWI general manager, John Dawson.

The latest combined North and South Island wool auction saw a 91% clearance and a generally firm market, says NZWSI general manager, John Dawson.

Despite the gloom that hangs over the dairy industry at present, the Ministry for Primary Industries is predicting a much brighter future for the primary sector in four years.

Global dairy prices continue their downward slide, with last night's auction seeing the average price index drop 1.3% to US$2,409/MT.

Global beef consumption will not increase markedly in the next few years, but on the plus side it has been reaching record prices, as have all meats, says Aidan Connolly, chief innovation officer for animal nutrition company Alltech.

The weakening New Zealand dollar coupled with exporter pressure to meet shipping requirements and limited supply continues to underpin the wool market, says NZWSI.

The North Island wool auction this week remained mostly firm except for the higher volume of shorter shears, which eased, compared to last week.

Polaris continues to grow its brand in New Zealand, its first quarter result exceeding that of 2014 by at least 38%, the company reports.