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Plunging Dairy Prices Signal Slower N.z. Growth; Kiwi Falls

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http://www.bloomberg.com/news/2014-08-05/plunging-dairy-prices-signal-slowing-n-z-growth-kiwi-declines.html

Plunging dairy prices may squeeze New Zealand farm incomes and curb spending, adding to signs that economic growth will slow, economists said.

Whole milk powder prices slumped 11.5 percent in an overnight auction to $2,725 a metric ton, a two-year low, GlobalDairyTrade said. That extended the decline to 46 percent from a peak in February. A separate report showed New Zealand employment growth slowed more than economists forecast in the second quarter.

It's like the global depression of the 1930's all over again.... Collapsing farm prices.

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Been a while since the last New Zealand farm bust. The last one was in the late 90's.

They are currently experiencing a drought.

http://www.atlas.cid.harvard.edu/explore/tree_map/export/nzl/all/show/2011/

IMO the NZD is about overvalued, but this is due to their high interest rates policy. Quite interesting to watch.

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