Rabobank Agribusiness Monthly February 2013

Rabobank Agribusiness Monthly February 2013

The report covers all the major agricultural sectors that are important to New Zealand and Australia as well as covering off the latest economic, retail and currency developments.

Key highlights:

• The early stages of 2013 have brought some weather extremes across New Zealand and Australia. The latest outlook paints more of a normal picture for upcoming autumn seasonal conditions.
• Dairy commodity prices continue to trend higher with fundamentals slowly coming back into better balance. Markets are closely watching the dry weather in New Zealand’s North Island, which is taking its toll on milk flows.
• Effective February 1, Japanese beef import protocols will allow US beef exporters to source cattle up to the age of 30 months (previously 20 months) for export into the Japanese market.
• Record low US corn and soybean stocks continue to drive global grain markets. Australian prices continue to hold at historically strong basis levels.

To view the full report, please click here.

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