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.


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.

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  • Tim Hunt

    Head of RaboResearch Food & Agribusiness - Australia & New Zealand
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  • Hayden Higgins

    Senior Analyst - Horticulture, Wine
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  • Emma Higgins

    Analyst - Dairy
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  • Blake Holgate

    Analyst - Animal Protein, Sustainability
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  • Michael Harvey

    Senior Analyst - Dairy
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  • Angus Gidley-Baird

    Senior Analyst - Animal Protein
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  • Cheryl Kalisch Gordon

    Senior Analyst - Grains & Oilseeds
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  • Wesley Lefroy

    Analyst - Agriculture
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  • Charles Clack

    Commodity Analyst
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