New Zealand Rural Land Company (NZL) has provided an update on the rural property market and industry conditions.
The company's current portfolio consists of high-quality pastoral land and permanent forestry land.
Rural land prices have remained resilient despite challenging economic conditions, with dairy farm values holding steady.
The recent Global Dairy Trade auction saw a fourth consecutive price increase, indicating a positive development for milk prices and on-farm profitability.
Futures for the 2024/25 season are trading at $9.00/kgMS, supporting the overall sector outlook and land prices.
NZL's annual revaluation of land assets will take place in December 2023.
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