Rabobank Agribusiness Monthly (NZ) - April 2016

Rabobank Agribusiness Monthly (NZ) - April 2016

The Agribusiness Monthly provides timely information and analysis on agricultural conditions, commodity price updates and commentary on the latest sectoral trends and developments.

Key Highlights:

• Dairy – Global commodity prices continue to stumble along a market floor largely determined by the level of EU intervention support—and the ceiling for this support has just been approved higher.

• Beef – New Zealand farmgate prices have remained relatively stable so far in 2016, particularly in light of a volatile currency, slow demand from the US and a spike in dairy-related cattle slaughter.

• Sheepmeat – NZD 4.65/kg cwt, while prices in the North Island averaged NZD 4.95/kg cwt : 8% and 4% lower YOY, respectively.

• Wool - New Zealand wool prices remain strong, despite coming off the peaks seen earlier in the season. The coarse crossbred indicator sits 13% above the five-year April average.

Full report attached.

http://img.scoop.co.nz/media/pdfs/1604/Agribusiness_Monthly_April_NZ.pdf

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