DairyNZ estimates 85% of dairy farmers will lose money this season as Fonterra cuts forecast payout

Thu, 28 Jan 2016

By Fiona Rotherham Jan. 28 (BusinessDesk) - DairyNZ estimates 85 percent of dairy farmers will post a loss this season with global milk prices taking longer than expected to recover to sustainable levels. Fonterra Cooperative Group this morning cut its forecast milk payout for this season to $4.15 per kilogram of milk solids from a previous estimate of $4.60/kgMS as global milk supplies continue to outweigh demand. DairyNZ chief executive Tim Mackie said the on-farm cash income of farmers from all milk production this season will be un...

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