Coronavirus concern hits dairy prices

Wed, 19 Feb 2020

Dairy prices fell for the second straight time at the Global Dairy Trade auction amid concern about the spreading coronavirus. “The fall in dairy prices could trigger a round of downward revisions to analysts’ dairy payout forecasts, with the bottom of Fonterra’s current $7.00 to $7.60 range in their sights,” Bank of New Zealand interest rate strategist Nick Smyth said in a note. “We currently project $7.40, but subject to downward reassessment,” Smyth added.The GDT price index dropped 2.9 percent from the previous auction two weeks a...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

RBNZ rate cut lifts sharemarket, high‑yield stocks climb

The S&P/NZX 50 Index closed up 0.27% or 37.19 points.

Tom Raynel 08 Oct 2025

Law & Regulation

Calibre Partners seeks buyer for Futureverse

The insolvency came just over two years after 50T Funds led a $54m funding round.

Gregor Thompson 08 Oct 2025

Calibre Partners seeks buyer for Futureverse

Economy

RBNZ cuts to 2.5% with more on the table

The committee remains open to further reductions, it said.

Rebecca Howard 08 Oct 2025

RBNZ cuts to 2.5% with more on the table

Sponsored

Why New Zealand organisations need to rethink their cloud strategy

New Zealand organisations have embraced cloud computing over the past decade, but many are now confronting a sobering reality: adoption alone isn’t enough. According to Datacom’s 2025 Cloud & Infrastructure Report, only half of New Zealand businesses say they’ve realised the benefits they expected from cloud – despite significant investment.

Datacom

Sponsored