Weather wise, we are starting to see regular rains coming through with lake storage levels now above average. Quite a turnaround in the last five to six weeks from a very dry situation. Coupled with the rains are mild temperatures which seem to confirm the expected El Nino effect on winter temperatures.
OMF NZ Futures Market report – May 15, 2014
Interest continues in the NZX Futures with tight markets seen in August and September WMP; currently quoted at $4180/$4210. Overall our WMP market looks like it will move higher based on the interest we are seeing. Offshore markets were weaker overall with ongoing corrections in Class III and Class IV.
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