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Fonterra Milk Price Forecast Update Preview & GlobalDairyTrade Auction: Starting on the front foot

  • Tomorrow we expect Fonterra to lift its 18/19 milk price towards the upper end of its current $6.30 to $6.60/kg range.
  • In addition, we expect Fonterra to set its opening 19/20 forecast at or around $7.00/kg.
  • Meanwhile, overall dairy prices fell modestly overnight, breaking a run of 11 consecutive rises.

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Nathan Penny

Senior Rural Economist

Nathan's bold predictions and his ability to call it as he sees it sets him apart from other New Zealand rural economists.  In particular, his controversial, but ultimately successful $6.00/kg MS 2016/17 milk price forecast is case in point.

He has a natural talent to distil complex issues and translate them into user-friendly formats for diverse groups, including farmers and financial markets participants.  Nathan brings unique perspectives and thought leadership to the country's rural and broader export sectors.  

Nathan joined ASB as the Rural Economist in 2013, having cut his teeth at the New Zealand Treasury.  He hails from the Kapiti Coast and studied at Massey University where he graduated with a Master of Applied Economics.

Nathan's expertise lie in dairy and other commodity markets, trade economics and economic forecasting.  He's a leading GlobalDairyTrade auction and NZX dairy derivatives commentator and he also authors ASB's monthly rural publication, Farmshed Economics.  

He's a proud Hurricanes and Wellington Phoenix fan, and will gladly discuss at length the Hurricanes Super Rugby 2016 victory.

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