Dairy
Looking at 2017 to date, WMP prices have now slid 10% at the Global Dairy Trade auction, Nathan Penny of ASB Bank has said.
Dairy product prices dropped 3% at the latest Global Dairy Trade auction, and according to ASB Bank the prices fell largely with expectations.
Rural Economist with ASB Bank Nathan Penny has said that continued milk production weaknesses are to lift dairy prices again later in the season.
New Zealand bank ASB expects dairy prices to consolidate over the next month or so, before lifting further again over the remainder of 2016.
Ahead of tomorrow's Global Dairy Trade auction, New Zealand bank ASB has suggested that SMP will pace overall dairy prices by approximately 4-6%.
At this early stage of the dairy price recovery, it’s very much a case of two steps forward, one step back, according to Nathan Penny of ASB Bank.
Dairy product prices rose 3.8% at yesterday's Global Dairy Trade auction, which is a small step on the road to recovery, Nathan Penny of ASB Bank has said.
Following yesterday's positive GDT auction, New Zealand bank ASB has said that the rebalancing of supply and demand still has some way to go.
Global dairy prices will recover over the rest of 2016, as EU and New Zealand milk production begins to slow, Nathan Penny of ASB Bank says.
The latest global dairy trade auction result was a good reflection of the current fragility in the dairy industry.
