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Rabobank Agribusiness Monthly February 2013
Rabobank Agribusiness Monthly February 2013
The report covers all the major agricultural sectors that are important to New Zealand and Australia as well as covering off the latest economic, retail and currency developments.
Key highlights:
•
The early stages of 2013 have brought some weather extremes
across New Zealand and Australia. The latest outlook paints
more of a normal picture for upcoming autumn seasonal
conditions.
• Dairy commodity prices continue
to trend higher with fundamentals slowly coming back into
better balance. Markets are closely watching the dry
weather in New Zealand’s North Island, which is taking its
toll on milk flows.
• Effective February 1,
Japanese beef import protocols will allow US beef exporters
to source cattle up to the age of 30 months (previously 20
months) for export into the Japanese market.
•
Record low US corn and soybean stocks continue to drive
global grain markets. Australian prices continue to hold at
historically strong basis levels.
To view the
full report, please click here.
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