Westpac NZ: “Worst is behind us in current milk price cycle”

Westpac NZ has lifted its milk price forecast. “It does seem that the worst is behind us in the current milk price cycle,” senior agri economist Nathan Penny of Westpac NZ says. “The positive results over the last 4 auctions do signal a clear improvement in dairy markets sentiment,” Penny emphasises. “Whether it will tip further in this direction, time will tell.” According to Penny, the improvement could be due to a number of factors. “Firstly, the low prices of dairy