NZD - BNZ has hiked its Fonterra milk price forecast

Author: Eamonn Sheridan | Category: News

Bank of New Zealand has increased its milk forecast for 2020-21

  • to NZD 7.40/kg ms (previous $7)
Analyst cite higher GDT prices:
  • up around 13% y/y
  • at their highest since 2014
And:
  • China demand
  • drier weather conditions in NZ
Risks to the forecast include:
  • increased northern hemisphere milk production
  • coronavirus risks

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BNZ info via Bloomberg 
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