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Rabobank Agribusiness Outlook 2015
Rabobank Agribusiness Outlook 2015
The 2015 Agribusiness Outlook shares Rabobank’s view for New Zealand agriculture in 2015. It includes four key swing factors that will be critical in shaping the outlook for 2015, addresses the significant price drivers for agricultural commodities and outlines the sectoral trends and developments that will be important to watch in 2015.
Key highlights
Outlook 2015
• Dairy – Lower global milk supply and demand gradually improving should be enough underpin a modest price recovery in 2015
• Beef – Much tighter supply from Australia, combined with strong demand from the US, will support historically high farmgate and export prices in 2015
• Sheepmeat –Strong demand from China, combined with slowly improving conditions in the EU will support farmgate prices in 2015
• Oil - Oil prices have fallen 50% since June, Rabobank expects a marginal recovery over the course of the year; but not before mid-2015
• FX- The NZD is forecast to beat a more gradual path lower against the USD over the course of 2015
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