Oil prices push upwards

Global oil prices rose on Tuesday by around 1%, reversing earlier losses. Supporting prices were a weaker US dollar, rising global sharemarkets and hopes of further easing of Chinese Covid restrictions. In addition a European Union ban on seaborne Russian crude, set...

Dairy auction prices improve

16.11.22 The fortnightly GDT dairy auction saw the price index up 2.4%, breaking a 3-auction streak of falls, with gains of just over 3% for whole milk and skim milk powder. Overall and WMP prices remain down 18% and 19% respectively on the same time a year ago....

Oil prices make ground

26.10.22 Global oil prices rose by almost 1% on Tuesday, reports CommSec. The US dollar index fell, making dollar-denominated oil less expensive for other currency holders and helping to push prices higher. “Prices were also supported by supply concerns raised by...

Oil prices slide further

13.10.22 Global oil prices fell for a third day, down by around 2.0% on Wednesday. OPEC cut its outlook for demand growth this year by between 460,000 barrels per day (bpd) and 2.64 million bpd, said CommSec. “Also the US Energy Department lowered its expectations for...

Steady dairy auction expected

3.10.22 Westpac expect whole milk powder prices (WMP) to be unchanged at the upcoming auction. This follows a 3.7% price rise at the previous auction. “Our pick is lower than the circa 2% lift that the futures market is pointing to,” says Westpac. “Fundamentally,...