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Fonterra lowered the top end of its milk-price forecast and Synlait cut its forecast to $9/kgMS on weaker worldwide demand. Analysts expect Oceania milk output to fall in 2023, with Australian output down about 4%.
Expected Oceania production declines and softer Chinese demand as lockdowns ease could support dairy prices, but weak fundamentals keep the outlook volatile. The net price effect on feed demand is modest.
businessdesk.co.nzRebecca HowardJan 5, 2023After 15 past neutral macro events, Milk (Class III) moved a median -0.2% over 5 sessions (27% higher; middle half -2.1% to +0.1%), and -3.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
