ASB Economic Update: Budget week
Wednesday, 24th May, 2017
It’s announcement week in New Zealand this week. We kick off with Fonterra’s opening season milk price forecast for the 2017/18 season, which will be announced on Wednesday morning.
Focus will be on Fonterra’s opening season forecast and the Government’s 2017 Budget.
We expect Fonterra to start the season with a cautious milk price forecast of around $6/kg of milk solids.
The Government Budget is expected to remain in surplus over the forecast period, but may include tax tweaks.