Not Out of the Woods Yet
OPINION: It seems Canterbury processor Synlait is still in the doldrums.
Golbal milk price recovery could be "slow and painful", with doubts now cast over when the turnaround may come in the next season.
Banks have cut their farmgate milk price forecast after another drop in the GDT price index last week, albeit minor at an overall 1.4%.
Opportunistic buyers taking advantage of low prices were probably behind last week's 3.6% overall rise in the GlobalDairyTrade (GDT), says Rabobank research analyst Emma Higgins.
Most of the major banks are predicting a drop between 4% and 8% – much higher than Fonterra's current forecast of a 2-3% fall.
OPINION: It seems Canterbury processor Synlait is still in the doldrums.
OPINION: Get offside with New Zealand First leader Winston Peters at your own peril.