Farmgate milk price forecasts by at least two banks, ASB and BNZ, have now been hiked upwards to $5/kgMS for the 2015-16 season.

Milk prices should keep rising given the scenario of falling NZ milk production.

ASB has lifted its milk price forecast to $5/kgMS for the season after GlobalDairyTrade (GDT) auction prices spiked higher for the third successive lift overnight, with the lift larger than expectations.

Beef and lamb exports paint two different pictures, according to the ASB’s Farmshed Economics report for August.

Key signs of lowering production were enough to “wake the market up” out of its downward spiral at last week’s GlobalDairyTrade auction, says ASB rural economist Nathan Penny.

Oversupply is still the underlying weakness affecting dairy prices, says ASB rural economist Nathan Penny.

Dairy prices are low and likely to stay that way a while longer, according to the latest ASB Farmshed Economics Report.

February's production data released by DCANZ last week shows Fonterra’s drought impact warning was over-the-top and explains why markets have corrected so sharply, say analysts.

The Global Dairy Trade price jump of 9.4% last week was at the top end or bigger than predictions by economists and part of a continued upward swing.