Photo: Getty ImagesThe weaker New Zealand dollar is boosting New Zealand commodity prices in local terms, ASB senior rural economist Nathan Penny says. "For us, the fall in the dollar means we can now reconfirm our 2018-19 milk price forecast at $6.50 a kg/ms." However, it was anticipated the weaker New Zealand dollar was enough to offset the fall in dairy auction prices. BNZ senior economist Doug Steel said New Zealand exports were "firmly higher" than a year ago through a mixture of volume expansion and higher prices. Higher prices had been the main driver as lamb production remained generally restrained.

Source: Otago Daily Times August 19, 2018 16:30 UTC