ASBs' Rural Economist Nathan Penny - outstanding in his field. Photo / Supplied
ASBs' Rural Economist Nathan Penny - outstanding in his field. Photo / Supplied
There is much to discuss when it comes to the rural economy but there was one topic on Nathan Penny's mind today.
ASB's Rural Economist was keen to kick off his mid-season report with lamb prices which continue to be a good news story for New Zealand's primary sector.
"We'll start on a good note," says Penny, who told The Country's Jamie Mackay prices are "pretty close to a record high," and although they may not stay that way due to price resistance from the markets at these levels, "let's celebrate while we're here."
Penny is not as confident about a $7 dairy payout, saying ASB is sticking with a $6.50 forecast which now seems "about right," especially in light of the US/China trade war and "currencies moving around."
Also in today's report: Nathan Penny takes a look at a bumper wine harvest for 2018 and interest and exchange rates.
