Dairy prices surprised overnight and bounced higher at the latest auction.
Key export commodity whole milk powder rose 2.4% to US$3350 per tonne, following a slight lift at the previous auction. The overall GDT index rose 1.8%, with gains across all categories, aside from lactose.
Westpac chief economist Kelly Eckhold said the futures market missed the mark after a 3-4% fall in the price of whole milk powder was expected.
He said Westpac’s $7.90 current season and $8.40 2025 season milk payout forecasts “still look good”.
In February, dairy giant Fonterra increased its 2023/24 season forecast Farmgate Milk Price, with the midpoint lifting to $7.80 per kg of milk solids.
Australian serviced apartment manager Urban Rest has added more than 60 upmarket Auckland city and fringe apartments to its corporate accommodation mix, after buying out local short-term renting firm Urban Butler.
In March, the Sydney-based company announced it would manage 34 units on behalf of its corporate clientele at Kiwi Property Group's Resido build-to-rent development at Sylvia Park.
Under the terms of the deal the team at Urban Butler – a company founded in 2017 and headed by Jon Lawry – will move across to Urban Rest and will manage what is now almost a 100-unit portfolio.
Outside of the Resido units, the Urban Butler portfolio includes apartments at the Pacifica, Wynyard Quarter and Ponsonby.
Lawry said about 80% of the group's business was aimed at "blue chip" international corporates, across tech, film and other emerging industries.
The firm's platform also includes properties in Australia, Dublin and London.
Labour MP Willie Jackson will be the first Māori to debate at the Oxford Union.
Jackson will debate the motion “This House Believes British Museums are not Very British” on May 23.
He will be debating against the motion with American author Gary Vikan and a student speaker. Opposing them are former British Labour Shadow Minister for Immigration Bell Ribeiro-Addy and former Conservative Minister for Culture, Communications and Creative Industries Lord Vaizey of Didcot PC and a student speaker.
“I am proud and humbled to be the first Māori to debate at the Oxford Union and to continue my advocacy for the rights of Māori at one of the most prestigious debating societies in the world,” Jackson said.