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Don't get excited just yet.
Economists aren't too excited about last week’s 2.2% overall lift in the Global Dairy Trade price index.
Anne Boniface, Westpac senior economist, says there was a 2.5% lift in whole milk powder prices, while butter and AMF prices also rose, partially unwinding the big falls seen in the previous auction. But the lift did not fully unwind the weaker dairy prices through November.
“Local conditions for most dairy farmers remain very favourable, and strong momentum in New Zealand milk production likely continued in November.”
Westpac is picking a $6.10/kgMS milk price for the season. “As we’ve noted previously, this forecast continues to assume we see a modest improvement in dairy prices in early 2019, with the risk of a further downward revision if this fails to eventuate in the coming months.”
ASB’s senior rural economist Nathan Penny says the rise snapped a run of seven consecutive falls.
“Nonetheless, we are suspicious. First, the rise is similar to falls in the US currency over the past fortnight. In particular, the Chinese yuan has lifted, making the USD-priced products cheaper for Chinese buyers.”
Global Dairy Trade (GDT) and Arla Foods have announced that Arla will begin offering European-sourced skim milk powder (SMP) on GDT Pulse from May 2025 as part of an extension to the GDT Pulse pilot.
A global trade war beckons, which is bad news for a small open economy like New Zealand, warns Mark Smith ASB senior economist.
Horticultural prices are set to remain elevated this year, reflecting the balance between demand in key export markets and an increase in supply.
ASB's new head of food and fibre, Kristen Ashby, believes that there’s “heaps of opportunity” in the agriculture sector.
Dairy and beef farmers could be eligible for lower interest lending options for financing Halter on their farms, with ANZ, ASB and BNZ now offering a pathway to sustainability loans for New Zealand’s largest virtual fencing provider.
Tractor manufacturer and distributor Case IH has announced a new partnership with Meet the Need, the grassroots, farmer-led charity working to tackle food insecurity across New Zealand one meal at a time.
The DairyNZ Farmers Forum is back with three events - in Waikato, Canterbury and Southland.
To celebrate 25 years of the Hugh Williams Memorial Scholarship, Ravensdown caught up with past recipients to see where their careers have taken them, and what the future holds for the industry.
Among this year’s Primary Industry NZ (PINZ) Awards finalists are a Southlander who created edible bale netting and rural New Zealanders who advocate for pragmatic regulation and support stressed out farmers.
Rockit Global has appointed Ivan Angland as its new chief operating officer as it continues its growth strategy into 2025.
Nominations are now open for the Horticulture New Zealand (HortNZ) board.
