OMF NZ Futures Market report – May 13, 2014

Farmers Weekly

May 13, 2014

We saw some corrections in offshore markets last week which was no surprise given their recent stellar runs – such as Class III & Class IV which still sit close to their records. WASDE numbers May 9th as released by the USDA show 2014 production numbers unchanged but 2015 expected to be nearly 3% higher driven by lower feed costs and strong margins.

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Locally our market continues to consolidate and hold current levels. We traded 100 lots of July WMP at $4100 yesterday and we have continued buying interest in WMP across the strip.

Weather wise – plenty of rain across the country and predicted El Nino expected to see a milder winter.

OMF NZ Futures Market report – May 13, 2014

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