New Zealand Agribusiness Monthly April 2020
This monthly update provides a market outlook and Covid-19 update for dairy, beef, sheepmeat, and other key commodities, and gives an overview of what developments to watch in the weeks to come.
Highlights
Coronavirus: The Chinese market has entered the slow recovery process, but the rest of the world is now falling ill. USD prices will fall in many commodities in coming months as panic-buying fades and negative income effects kick in.
Dairy: A global consumption pullback will drive commodity prices lower over the coming months.
Beef: Reduced processing capacity under alert Level 4 will put downward pressure on farmgate prices in April.
Sheepmeat: Rabobank expects that Covid-19-related disruptions both domestically and globally will have a negative impact on farmgate pricing in coming months.
