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Demand for New Zealand dairy products should remain solid despite China’s mixed economic outlook, says Imre Speizer, Westpac.
The rise in global dairy prices could be partially attributed to demand from China, says Westpac market strategist Imre Speizer.
Dairy prices fell overnight in Global Dairy Trade (GDT) auction, reversing the lift in the previous event.
Banks are mainly holding firm on their forecasts of $7/kgMS despite last week’s flat Global Dairy Trade result – a small decline of 0.4% in the overall price index.
Dairy prices continued to edge higher in last night’s Global Dairy Trade (GDT) auction with the aggregate price index up 0.4%.
A big reduction in European stocks of skim milk powder (SMP) was behind its whopping 10.3% rise in price at last week’s auction, economists concur.
Economists aren't too excited about last week’s 2.2% overall lift in the Global Dairy Trade price index.