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Displaying items by tag: rabobank
A weaker New Zealand dollar may help offset the decline in Global Dairy Trade prices, but the reasons behind the lower dollar are more significant to dairy, says Rabobank dairy analyst Emma Higgins.
Global milk supply is stalling and that could mean more money in the pockets of New Zealand dairy farmers.
Dairy prices softened slightly again at last week’s Global Dairy Trade Event but results were again mixed, says Rabobank dairy analyst Emma Higgins.
A shaky start possible, but a strong finish anticipated. That’s the prediction from Rabobank on the 2018-19 season starting June 1.
Whole milk powder prices were softer at last week’s GDT auction, taking the average price down 1.5% to US$3231/t and the overall price index down 1.1%, says Rabobank dairy analyst Emma Higgins.
The second to last Global Dairy Trade (GDT) event for the 2017-18 production season saw the auction’s price index down 1.1%.
Whole milk powder saw a small lift of 1.6% to US$3278/tonne at last week’s GDT auction despite the small decline in overall prices of 1.6%, says Emma Higgins, from RaboResearch.
The China infant formula market has been very challenging for several dairy companies operating there for the last 18 months – not just Fonterra, says Rabobank senior dairy analyst Michael Harvey.