Posts tagged "ANZ Bank"

NZ wine export revenue rises to record $1.66 billion

[18 December/Radio New Zealand] The wine industry has experienced a bumper year and is optimistic about further export growth. A new report shows that a record $1.66 billion was made in wine export revenue this year with volumes rising to key markets like the US, UK and Australia. The larger operators continue to report higher...

Farmers show resilience as low price for milk persists

[17 June/ NZ Herald] Prices at the Global Dairy Trade auction have remained steady, with the exception of whole milk powder which dropped by 4.5 percent to USD 2118 per tonne. ANZ Bank Rural Economist, Con Williams said the next few auctions for whole milk powder were likely to be important in determining the trend...

Dairy prices end four-sale winning streak

[21 October/ NZ Herald] Having increased in each of the last four sales, the latest GlobalDairyTrade auction recorded an overall 3.1% reduction and saw the New Zealand dollar fall as a result.  Whole Milk Powder prices, the key product that drives Fonterra’s farmgate milk price, fell 4.6% to an average price of USD2,694 per tonne...

Fonterra forecast pushes kiwi up

[25 September/ NZX AgriHQ] The New Zealand dollar has risen after Fonterra increased its forecast milk price to $4.60 per kilogram of milksolids. Economists have lowered the chances of rate cut by the Reserve Bank following Fonterra’s announcement. OMF Senior Foreign Exchange Dealer, Stuart Ive expected a resistance level of USD 0.64 to hold, unless...

Better prices tipped at next dairy auction

[14 September/ NZ Herald] The NZX futures market has indicated that a 10 percent gain in the GlobalDairyTrade weighted index could be achieved at its next auction. ANZ Bank said the implied gain for wholemilk power seemed too aggressive, with the bank expecting around a figure between USD 2,200 to USD 2,300 per tonne. Private...

Fonterra: We’re not stockpiling

[2 September/ Radio NZ Rural] Fonterra has said it is not stockpiling its product, despite reducing the amount of whole milk powder it sells on the GlobalDairyTrade auction platform. Volumes sold at the most recent auction totalled 35,865 tonnes, a decrease of 1,000 tonnes on the previous auction and 21,000 tonnes below the amount sold...

Dairy plunge drives commodity index down

[5 August/ NZ Herald] The ANZ Commodity Price Index has fallen 11.2 percent to a six-year low, with dairy prices being the driving force of its decline. The dairy sub-index dropped 23.1 percent to an 11-year low, with whole milk powder and skim milk powder prices falling 35 and 11 percent respectively. Most other sectors...

Performance potential in red meat industry

[11 August/ Radio NZ Rural] ANZ Bank Managing Director, Graham Turley said he believed the red meat sector showed huge potential. Mr Turley said the sectors returns were currently the best of any agricultural sector in the country, which could increase both investment and future returns. Mr Turley did note that business succession was an...

Dairy price too low for Fonterra forecast

[11 August/ NZ Herald] OM Financial Director, Nigel Brunel and ANZ Rural Economist, Con Williams both agreed that milk powder prices needed to improve substantially before Fonterra’s revised farmgate milk price of $3.85 per kg of milk solids can be achieved. Mr Brunel said the market needed to see a 15 percent increase from current...

Dairy farm prices set to fall, says ANZ

[6 August/ NZ Herald] According to ANZ Bank, the price of New Zealand dairy farms are likely to fall as the sector faces the prospect of two years of low payouts. The bank said its analysis highlighted that large dairy operations are struggling to attract buyers, while many second-tier properties have received discounted offers. ANZ...

Big gains from dollar’s fall

[27 July/ NZ Farmers Weekly] According to the ANZ Commodity Price Index, all agriculture sectors, apart from dairy, have gained from the lower New Zealand dollar. Global prices for meat, skins and wool fell by 8.6 percent in the year to June, but the dollar impact resulted in an 8 percent gain in domestic terms....

Gaping hole greets new season

[6 July/ NZ Farmers Weekly] The latest GlobalDairyTrade price index has fallen 5.9 percent, its eighth consecutive fall, signalling another tough season for New Zealand dairy farmers.  Whole milk powder prices fell 10.8 percent to just above USD 2000 per tonne, the lowest level since the global financial crisis. September and October contracts for delivery...

Commodity prices fall again in May [2 June/ NZ Herald]

The ANZ Commodity Price Index for May declined by 4.7 percent, on the back of a continued weakness in dairy products and a decline in prices of meat, and is now 18 percent lower than last year. Dairy prices fell 8.2 percent in May and were down 36 percent from the same month last year....

Sixth consecutive fall sees dairy at six-year low; butter fares worst [4 June/ Otago Daily Times]

Dairy prices fell for the sixth consecutive time at the GlobalDairyTrade auction, with the index falling 4.3 percent to its lowest point in six years. Butter prices recorded the largest fall, 10 percent, continuing their steep decline since March. Westpac Senior Economist, Michael Gordon said the falls were disappointing given price indicators hinted at stabilisation...

Farmers face another tough year [29 May/ NZ Herald]

Fonterra Co-operative Group revised down its farmgate milk price for the 2014/15 season to $4.40, as global prices did not increase as expected. Fonterra has also set its opening forecast for the 2015/16 season at $5.25 per kilogram of milksolids. Fonterra’s chief financial officer Lukas Paravicini believed low prices would be temporary, with the market...

Dairy prices tipped to bottom out at auction [19 May/ NZ Herald]

Dairy Analysts expect the prices in final GlobalDairyTrade auction for the season to bottom out. ANZ Bank Rural Economist, Con Williams believed prices may have bottomed out, with an increase of up to 5 per cent for whole milk powder a possibility. Mr Williams added that any bounce in prices would be positive, but a...

Banks got off too lightly, negotiator says [8 May/ Radio NZ Rural]

Farm Debt Negotiator, Janette Walker said farmers should come together and take legal action for more compensation from banks, after ANZ, ASB and Westpac reached a $24.7 million settlement with the Commerce Commission over the way interest rate swaps were sold between 2005 and 2009. Both Ms Walker and Labour’s Primary Industries Spokesperson, Damien O’Connor...

Median price for all farms up to $28,000 a hectare [7 May/ Business Day: NZ Farmer]

The median farm land price rose by 24% over the past three months compared to the corresponding period last year. The median price for all farms reached $28,000 per hectare with horticulture and arable land rising by 99 and 76 per cent respectively on the previous year. Dairy farm prices rose 31 per cent to...

Dairy prices push index down [5 May/ NZ Herald]

Declining dairy prices dragged ANZ Bank’s commodity price index 7.4 percent lower than last month, with a strong New Zealand dollar amplifying the decline. In New Zealand dollar terms the ANZ index fell 8.9 per cent in April to be 6.8 per cent down on a year ago. ANZ Rural Economist, Con Williams said Fonterra’s...

Burger-loving Americans push beef exports to record

[16 April/ NZ Herald] According to Beef + Lamb New Zealand, beef and veal export returns reached a record high of $1.6 billion in the first six months of the export season, a rise of 43 percent on the corresponding period last season. The average per tonne value of beef and veal exports also rose...

Farm sales robust despite product price drop, drought

[14 April/ NZ Herald] ANZ Bank said the rural property market has remain resilient, in the face of lower farmgate prices and drought conditions, with the seasonally adjusted measure for total turnover continuing to hover around the 10-year average and the all-farm price measure sitting at an elevated level after a rise in February to...

Auctions crucial to opening milk prices

[14 April/ Otago Daily Times] The next three GlobalDairyTrade auctions are being described as critical when it comes to the opening milk price and advance for the 2015-16 season. ANZ Bank said it was holding its $5.75 milk price for the new season, but recent auction weakness and the strength of the New Zealand dollar...

Fonterra units hit new low

[11 April/ NZ Herald] Fonterra Shareholders Fund units fell to their lowest point since listing on the NZX as unrest grows over a weaker than expected interim result and a drop in the co-operatives forecast dividend for the full year, which many hoped would partly offset a low farmgate milk price. Fonterra announced a 16...

World dairy prices slide 10.8pc on supply concerns

[2 April/ NZ Herald] The GlobalDairyTrade index fell by 10.8 percent, compared with the last auction, raising concerns about both Fonterra Co-operative Group’s $4.70 farmgate milk price and next season’s payout. Wholemilk powder fell 13.3 percent to USD 2,538 a tonne while skim milk powder dropped 9.9 percent to USD 2,467 a tonne. The largest...