Friday, July 1, 2022

NZX Agrifax Dairy Index moves above 1500 points.

The NZX Agrifax Dairy Index gained 12 points this month to move back above the 1500 level.  

The overall index totaled 1506 for the month of April. Dairy commodity prices were the big mover gaining another 20 points following the 44 points gained in March.  The Agrifax forecast milk price for the 2012/13 dairying season was increased by 5c to $5.85 per kilogram milksolids (kgMS) adding another 3 points to the index.  However all other sub-indices either stayed steady or lost ground during April.  A stronger New Zealand dollar resulted in a 2 point drop in the exchange rate sub-index.  The Fonterra share price also eased back from where it was a month ago, Fonterra paid their interim dividend and a share bonus issue earlier in April and their share price eased following this as expected. Shares of some other dairy related companies also eased this month which resulted in a drop in the Industry Shares sub-index.  Dairy stock prices eased a little, but there has still been strong demand for good quality livestock.  

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