Takeover bid?
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
The country's second-largest milk processor has revised its forecast milk payout for the season as dairy prices soften.
A “hint of conservativeness” can be detected in Fonterra’s updated forecast on the farmgate milk price last week, says ASB’s senior rural economist Nathan Penny.
A fall of 3.4% in the overall GDT Event price index last week was the fourth consecutive fall and prices are now at eight-month lows.
Three bank economists see a risk of downside to farmgate prices from last week’s GDT auction where the overall price index dropped 2.4%.
The back-to-fat story was reinforced at the latest GDT event with butter up 3.3% to a fresh auction record high of US$5631/t, says ASB senior rural economist Nathan Penny.
New Zealand’s three major export sectors- beef, lamb and dairy- may pass the $6/kg mark simultaneously at some stage this year, says ASB analyst Nathan Penny.
The rise of fats continues to play out as the GlobalDairyTrade (GDT) auction saw its second consecutive rise last week, says Rabobank dairy analyst, Emma Higgins.
Latin America may have been the unexpected cause of the GlobalDairyTrade (GDT) overall price index rising 1.7% last week against expectations, says ASB senior rural economist Nathan Penny.
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
OPINION: It seems every bugger in this country can get an award these days.