ANZ cuts forecast for 2015 milk payout by 11% on falling dairy prices

Wed, 02 Jul 2014

By Paul McBeth July 2 (BusinessDesk) - ANZ New Zealand economists lowered their forecast for Fonterra Cooperative Group's 2015 milk payout to farmers, reflecting the continued slide as dairy prices and a kiwi dollar near three-year highs. Fonterra may cut its 2015 forecast farmgate payout to $6.25 per kilogram of milk solids from the opening $7/kgMS forecast it announced in June, ANZ economists said in note. That would equate to a $3 billion slump in dairy incomes from a record 2014 payout, which is expected to be $8.40/kgMS. The bank exp...

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