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How food prices affect what, and how much, farmers produce stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
Commodity prices hitting record levels, expected to stay 'stronger for longer' stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
Dairy prices remain elevated after the latest global auction. Dairy prices slipped in the overnight global auction although they remain elevated, boding well for payments to farmers for next season, analysts say. Both the global dairy trade price index and the whole milk powder price index eased 0.2 per cent. Whole milk powder prices have the most impact on what farmers are paid. The average price of whole milk powder gained US$8 (NZ$11) a tonne to US$4123/t, which is 54 per cent higher than a year ago. While prices fell for the two nearest contracts at the overnight auction, prices for later dated contracts increased, signalling future demand remains strong. ....
Westpac picks change to Fonterra's end-of-season milk price forecast nzherald.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nzherald.co.nz Daily Mail and Mail on Sunday newspapers.
Dairy prices are likely to remain high, boding well for farmers and the economy. Dairy prices are likely to remain stronger for longer as farmers are constrained in ramping up supply to meet robust demand, analysts say. BNZ on Friday raised its expectation for Fonterra’s forecast milk price for next season, to $7.80 per kilogram of milk solids, from $7 per kgMS. That’s higher than BNZ’s forecast for this season of $7.70 per kgMS. Fonterra is due to make its first milk price forecast for next season by the end of this month. Expectations from the four major banks range from $7.30 per kgMS to $8 per kgMS. ....