ANZ have boosted their forecast for the farmgate milk price for the 2020-21 season
- by 20c to $6.70/kg MS.
- Dairy commodity prices have outperformed expectations, but ANZ say they remain cautious regarding the outlook.
On the currency:
- Our outlook for the NZD remains unchanged with a medium-term forecast of
- NZD/USD 0.65.
ANZ cite a massive degree of uncertainty as to where the NZ dollar will head
- it is very much influenced by global market forces
- If global risks escalate further then we are likely to see downward pressure
- but equally, if risk appetite improves after US elections, the NZD could well go higher. Global factors have generally been more influential this year.
