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Andrew Kelleher: Weaker NZ dollar could save farmers from falling dairy prices
The weaker New Zealand dollar could save farmers from the full impact of falling dairy prices.
Prices are down 1.9 percent at Fonterra's latest global dairy auction.
The crucial whole milk powder price is down 1.2 percent, while butter prices have plummeted 5.9-percent.
JMI Wealth director Andrew Kelleher told Mike Hosking the impact of the price drop will depend on the currency hedging Fonterra has done.
"If they've hedged the currency, they are not going to get the benefit of the weaker New Zealand dollar, if the have left the currency hedging exposed the farmers might get the benefit."
LISTEN ABOVE AS ANDREW KELLEHER SPEAKS WITH MIKE HOSKING
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By Newstalk ZBThe weaker New Zealand dollar could save farmers from the full impact of falling dairy prices.
Prices are down 1.9 percent at Fonterra's latest global dairy auction.
The crucial whole milk powder price is down 1.2 percent, while butter prices have plummeted 5.9-percent.
JMI Wealth director Andrew Kelleher told Mike Hosking the impact of the price drop will depend on the currency hedging Fonterra has done.
"If they've hedged the currency, they are not going to get the benefit of the weaker New Zealand dollar, if the have left the currency hedging exposed the farmers might get the benefit."
LISTEN ABOVE AS ANDREW KELLEHER SPEAKS WITH MIKE HOSKING