New Zealand Agribusiness November 2022: The Gift of Strong Prices This Christmas?
Here are the main highlights for some of New Zealand’s key commodities this month. The full report provides an overview of the developments to watch in the upcoming weeks.
- Dairy: Milk production growth looks set to continue to struggle in Oceania, as inclement weather shapes the 2022/23 season.
- Beef: The farmgate beef schedule could face some downward pressure over the next two months as demand softens.
- Sheepmeat: The lamb schedule is anticipated to move lower in the lead up to Christmas, following usual seasonal pricing trends.
- Farm Inputs: Can a new global price configuration reach Oceania?
- FX/Interest Rates: With higher-than-expected inflation, the RBNZ will have to push interest rates higher, with another cash rate hike expected in their final 2022 meeting in late November.
- Oil/Freight: The bleak economic outlook continues to put pressure on oil and freight demand.
