Rural Wrap: Many moving parts
Doug Steel -
• Lower NZD supports primary prices (and costs)
• Skimmilk powder prices up sharply
• We lift our 2026/27 milk price forecast to $10.00
• Beef and lamb prices complete very strong season
• El Nino impact one of many factors on the watch list
Major pastoral agriculture sectors recorded strong pricing over the past season with some setting records. Looking ahead, there is much to monitor with multiple factors on the move across prices, costs, and currencies. There is also the uncertainty heading into a close general election and clear weather risk in the form of a very strong El Nino.