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Slow rebalancing in global dairy markets weighs on prices
Slow rebalancing in global dairy markets weighs on prices, but turnaround beginning – Rabobank
Recent decreases in international dairy prices and the 2014/15 milk price payout projection reflect the slow pace of the rebalancing that is taking place in global dairy markets, agribusiness banking specialist Rabobank said today.
Rabobank New Zealand CEO Ben Russell said the current market price forecast will negatively impact New Zealand dairy farmer cash flow and profitability across this season and next, but a turnaround in global dairy markets was beginning, with Rabobank maintaining its expectation of a price recovery to commence during the 2015-2016 season.
Rabobank director of
Dairy Research New Zealand and Asia, Hayley Moynihan said
market indicators were emerging which would lead to reduced
global dairy supply growth and ultimately a recovery in
prices.
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