Dairy outlook 2023: stand by for volatility to continue

Fonterra has lowered the top end of its milk-price forecast. (Image: NZME)

Fri, 06 Jan 2023

Dairy prices have already come off the boil and ongoing volatility will be the name of the game in 2023 as China opens but inflation runs rampant across the globe. Global market volatility – and weaker Chinese demand – already saw Fonterra lower the top end of its forecast farmgate milk price range in December. It is now forecasting $8.50 to $9.50 per kilogram of milk solids (kgMS) for the 2022-23 season versus an earlier view of $8.50 to $10. Synlait milk also lowered its forecast to $9/kgMS from $9.50 on weaker wo...

Subscribe to BusinessDesk

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

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.

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].interval) | 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

NZ sharemarket ends week up 0.5%

The S&P/NZX 50 Index closed at 12,995.01, up 66.63 points.

Graham Skellern 6:10pm

Markets

Minority investors need stronger protection – NZSA

Hotels takeover offer shows need for minority shareholders voting regime.

Rebecca Howard 4:00pm

Minority investors need stronger protection – NZSA

Technology

Nvidia chip flow to China 'should be throttled post-DeepSeek'

Bipartisan leaders of a congressional committee want export controls tightened.

The Wall Street Journal 2:45pm

Nvidia chip flow to China 'should be throttled post-DeepSeek'

Sponsored

Shining bright: Why gold matters today

The “great wealth store” remains a smart portfolio choice in 2025.

Smart

Sponsored

Why Kiwis are embracing Bitcoin ETFs

The once hard-to-access investment option is becoming mainstream.

Smart

More Primary Sector

Primary Sector

Zhiqiang Li takes helm as acting CEO of Westland Milk Products

Zhiqiang Li has taken the helm as acting chief executive of Westland Milk Products, effective today.The move follows the resignation of former CEO Richard Wyeth.Li will continue as executive director of Yili Group in Australia and New Zealand.Li said Wyeth joined the company four...

Rebecca Howard 12:45pm