ANZ Bank predicts robust farmgate milk price amid global market uptick
Source: The DairyNews
ANZ Bank is optimistic about a farmgate milk price of $7.70/kgMS for the current season, attributing the positive forecast to global market improvements and a weakened New Zealand dollar.
The projection aligns with the upper range of Fonterra's forecast and reflects growing confidence in the dairy sector, driven by factors such as the election of a new government promising regulatory reforms.
However, ANZ economist Susan Kilsby highlights the cautious spending behavior of the Chinese middle class, influenced by extended COVID lockdowns and uncertainties in the housing market, as a potential challenge to demand.
The projection aligns with the upper range of Fonterra's forecast and reflects growing confidence in the dairy sector, driven by factors such as the election of a new government promising regulatory reforms.
However, ANZ economist Susan Kilsby highlights the cautious spending behavior of the Chinese middle class, influenced by extended COVID lockdowns and uncertainties in the housing market, as a potential challenge to demand.
