While your old mate is on the topic of Landcorp – or Pamu as it likes to call itself these…
Fonterra surprised observers last week by announcing an early upgrade of its milk price; the GlobalDairyTrade (GDT) price index lift of just 1.7% was lower than expected, says ASB’s senior rural economist Nathan Penny.
“A super start to spring” is how Rabobank dairy analyst Emma Higgins describes the third consecutive significant rise on the Global Dairy Trade (GDT) event platform.
The Global Dairy Trade price index was up 6.6% overnight, with the all-important whole milk powder up 9.9%.
ASB is sticking with its 2016/17 milk price forecasts of $6/kgMS, with the Global Dairy Trade overall price index remaining unchanged overnight.
The GlobalDairyTrade (GDT) price index fall of 0.4% last week was "modest" in the face of Brexit's impact on other markets, rural economists concur.
The 0.4% drop in dairy price index overnight in the GlobalDairyTrade auction was likely Brexit's impact on dairy prices, says ASB rural economist, Nathan Penny.
It is easy to talk ourselves into doom and gloom nowadays, given a push by ill-informed media reporting and commentary on the agricultural sector.