Displaying items by tag: Doug Steel

While lamb prices are starting the new season at around 16% below last year’s levels, they are not outright weak, according to the BNZ.

The forecast milk payout for this season has gone up by 40c and Fonterra farmers can thank Chinese consumers.

Primary product prices will fall further this year but remain at reasonable levels before some improvement in 2021, according to BNZ senior economist Doug Steel.

Take the win but don’t bet the farm on it lasting.

Dairy prices were below expectations at last week’s Global Dairy Trade (GDT) auction, largely due to fat prices.

Powders led the way for the 3.7% jump in the Global Dairy Trade last week with economists now looking at an upside to current milk price forecasts.

Lamb prices hit an all-time high of $8.60/kg early last month.

The latest survey of farmer confidence from Federated Farmers does not make pretty reading, says BNZ senior economic Doug Steel.

But it's not all doom and gloom.

The Global Dairy Trade (GDT) price index rose just 0.4% last week, but positive indicators will maintain market optimism for the new season, says BNZ senior economist Doug Steel.

The farmgate milk price could possibly rise beyond $7/kgMS in the 2019-20 season.