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What today s dairy auction means for 2021/22 NZ milk price forecast
5 May, 2021 05:35 AM
3 minutes to read
Today s dairy auction has reinforced high milk price forecasts. Photo / Supplied
Dairy prices dipped a little at this morning s dairy auction but they have mostly remained elevated, thereby confirming the high farmgate milk price forecasts, analysts said. Westpac senior agri economist Nathan Penny said the result was consistent with the bank s 2020/21 milk price forecast of $7.90/kg.
Read More Similarly, the result means that global dairy prices remain on the front foot heading into the new dairy season, he said.
After the previous auction late last month, Penny lifted his forecast for the upcoming 2021/22 milk to $8.00/kg.
Liam Dann: Jobs data shows we re through the worst of Covid shock
5 May, 2021 05:42 AM
5 minutes to read
Unemployment fell to 4.7 per cent in the March quarter, beating the expectations of even the most optimistic economists. Photo / File
Unemployment fell to 4.7 per cent in the March quarter, beating the expectations of even the most optimistic economists. Photo / File
OPINION:
The first three months of 2021 was supposed to be a real test of New Zealand s economic strength as the reality of the pandemic border closures hit home. Today s remarkably strong labour market data shows it was a test that we have passed.
WASHINGTON: Global prices for raw materials are soaring thanks to a boom in demand due to the recovery from the COVID-19 downturn, coupled with logistical bottlenecks.
Copper in the past week hit a 10-year high. Bloomberg’s agriculture Commodity Price Index has climbed 22 percent so far this year to its highest level since 2016, while crude oil has risen 30 percent in the past year.
Lumber has tripled over the past 12 months, and the National Association of Homebuilders said that has added $36,000 to the cost of a new house.
Tin, used in electronic circuits, automotive components and batteries, also hit its highest level since 2011, as the price doubled in the past year. The reasons for these increases are varied.
Bacon and copper lead commodity price surge
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WASHINGTON, May 2, 2021 (BSS/AFP) – Global prices for raw materials are soaring thanks to a boom in demand due to the recovery from the Covid-19 downturn, coupled with logistical bottlenecks.
Copper in the past week hit a 10-year high, while pork prices have fattened in part due to higher demand for bacon from Americans working and eating breakfast at home.
Bloomberg’s agriculture Commodity Price Index has climbed 22 percent so far this year to its highest level since 2016, while crude oil has risen 30 percent in the past year.
Lumber has tripled over the past 12 months, and the National Association of Homebuilders said that has added $36,000 to the cost of a new house.