Commodity prices slip. The ANZ Commodity Price Index was down again in August but it’s still well ahead of the same time last year and remains near its record high set in June. The World Price Index was down 1.6% in August compared to July, following a 1.7% decline over the previous month. The Index […]
dairy prices
Economic Week – August 6
Have commodities peaked? Having posted record highs in recent months, commodity prices slipped in July. The ANZ World Commodity Price Index was down 1.4% compared to June. Dairy was the main downward influence, with its prices down 3.4% for the month. Meat and fibre prices were up 0.6%, with higher prices for lamb and wool […]
Economic Week – July 23
GDT down again. Dairy prices slipped again at this week’s Global Dairy Trade auction, its seventh consecutive fall stretching back three over three months. Overall, the GDT Price Index was down 2.9% compared to the previous auction a fortnight ago. Whole milk powder, by far the biggest traded by volume, was down 3.8%, while skim […]
Economic Week – June 18
GDP surprisingly strong….will rates rise sooner? Despite continued border restrictions keeping out international tourists and despite Auckland being in alert level 3 lockdown for 10 days, March quarter’s Gross Domestic Product was undeniably strong. Quarterly growth of 1.6% came in well ahead of economists’ expectations, including the Reserve Bank which had been forecasting a 0.6% […]
Economic Week – May 21
Budget 2021. The big economic news for the week was, of course, the Budget. For my account of Budget 2021 and what it means for farming click here. For the rest of the week’s economic news read on… Dairy prices slip again. This week’s Global Dairy Trade auction was its third consecutive fall, albeit just […]
Fonterra lifts farmgate price, food prices down
by Nick Clark, Federated Farmers Manager General Policy Fonterra lifts payout forecast Fonterra has lifted its farmgate milk price forecast for the current 2020/21 season to a range of $7.30-$7.90 per kgMS with a midpoint of $7.60. This is up from its previous range of $6.90-$7.50 and midpoint of $7.20. Fonterra said its milk price […]
GDT surges, commodities up, exports down
by Nick Clark, Federated Farmers Manager General Policy GDT surges Dairy prices leapt at this week’s Global Dairy Trade auction, up a whopping 15.0% at this week’s auction. Whole milk powder, by far the biggest commodity by volume, led the way in jumping 21.0% compared to a fortnight ago. Almost all the other commodities also […]
Dairy Industry Opportunities with a Guarantee
By chair of the Sharemilker Farm Owners’ Section, John Numan The Sharemilker farm owners’ section of Federated Farmers and the Sharemilkers’ section frequently review the Federated Farmers employment contracts used for Contract Milkers, Lower Order Sharemilkers and Herd Owning Sharemilkers. As anyone who has used them will know, unfortunately, the contracts are lengthy as they […]
Economic Week – February 19
by Nick Clark, Federated Farmers Manager General Policy Seven in a row Continued strong demand from China saw dairy prices increase again in this week’s Global Dairy Trade auction. The GDT Price Index was up 3.0% compared to the previous auction a fortnight ago. All six commodities on offer increased in price, led by whole […]
Economic Week – February 5
A round-up of the week’s economic news by Nick Clark, Federated Farmers Manager General Policy Farmer confidence bounces back The results are out from Federated Farmers’ latest six-monthly Farm Confidence Survey. The survey showed a strong recovery in farmer confidence, albeit off a low base, returning it to levels of a year ago. Key points […]