Lamb prices hit record levels in 2Q, pushing up terms of trade

Sun, 01 Sep 2019

By Rebecca Howard Sept. 2 (BusinessDesk) - New Zealand’s terms of trade lifted in the second quarter as meat and dairy prices saw strong rises, with lamb prices hitting record levels. The terms of trade, which measures the purchasing power of New Zealand's exports relative to imports, rose 1.6 percent in the three months to June 30 after lifting 1.0 in the three months to March, Stats NZ said. Economists had been expecting a rise of 1.0 percent, according to Bloomberg. Lamb export prices reached their highest level since the series...

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