Economists pare back Fonterra milk payout forecasts after dismal global dairy auction

Tue, 07 Mar 2017

By Rebecca Howard March 8 (BusinessDesk) - Economists have pared back their forecasts for Fonterra Cooperative Group's milk payout to its farmer shareholders for the current season after dairy prices tumbled in the overnight GlobalDairyTrade auction. Last month, Fonterra kept its forecast farmgate payout at $6 per kilogram of milk solids, citing the rebalancing of demand and supply. Overnight, the GDT price index - which covers a variety of products and contract periods - slid 6.3 percent from the previous auction two weeks ago to U...

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