Is New Zealand’s favourite ice cream brand about to change hands?
China remains the key to where the global marketplace is heading in dairy prices, says Westpac economist Anne Boniface.
Export commodity prices have started 2018 on a firm footing thanks in part to the buoyant global trade backdrop.
Westpac senior analyst Anne Boniface says fears of tighter international supplies, particularly for whole milk powder, helped dairy prices squeeze higher in the first few Global Dairy Trade auctions of 2018.
The threat of a big drought is prompting Westpac to contact its farmer clients to see what help they may need.
The number of dairy farms coming on the market is seen as a sign of confidence returning to the industry.
Last night’s Global Dairy Trade (GDT) auction was disappointing relative to market predictions, says Westpac senior market strategist Imre Speizer.