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27 Feb 2014
Flash: Strong news out of New Zealand - RBS
FXStreet (Bali) - Greg Gibbs, FX Strategist at RBS, notes the upbeat economic data from New Zealand on Thursday.
Key Quotes
"New Zealand's dairy cooperative company raised its payout to farmers by 35c to $8.65 per kg of Milk solids, a record level. Its press release said, "The increase – along with a previously announced estimated dividend of 10 cents per share –amounts to a forecast Cash Payout of $8.75. "
"This is below the milk price derived from underlying prices in the companies 'milk price manual' by 70c. The coop is holding something back perhaps keeping a buffer for farmers in the future in case milk prices fall from record highs. "
"Also announced it was increasing its advance payments from March to June, putting more cash in farmers' hands sooner."
"In other data Thursday, the NZ trade balance was in a somewhat bigger than expected surplus and immigration levels reached a new cyclical peak. The data reflect the stronger terms of trade and increasing opportunity in New Zealand for employment. "
Key Quotes
"New Zealand's dairy cooperative company raised its payout to farmers by 35c to $8.65 per kg of Milk solids, a record level. Its press release said, "The increase – along with a previously announced estimated dividend of 10 cents per share –amounts to a forecast Cash Payout of $8.75. "
"This is below the milk price derived from underlying prices in the companies 'milk price manual' by 70c. The coop is holding something back perhaps keeping a buffer for farmers in the future in case milk prices fall from record highs. "
"Also announced it was increasing its advance payments from March to June, putting more cash in farmers' hands sooner."
"In other data Thursday, the NZ trade balance was in a somewhat bigger than expected surplus and immigration levels reached a new cyclical peak. The data reflect the stronger terms of trade and increasing opportunity in New Zealand for employment. "