Westpac begs to differ on milk payout forecast

Westpac is sticking to its forecast of $10.00 kgMS. (Image: Getty)

Tue, 30 May 2023

Not only does Westpac Bank not buy the idea that the central bank has finished hiking interest rates, but it also doesn’t agree with dairy giant Fonterra on the forecast milk price payout.Last week, Fonterra said its forecast farmgate milk price for the season that kicks off June 1 is $7.25 to $8.75 per kilogram of milk solid (kgMS), with a midpoint of $8.00 per kgMS. Westpac Bank, however, is sticking to a forecast of $10.00 per kgMS.DairyNZ forecasts in March put the cost of production at around $9 per kgMS.More bullish on ChinaSen...

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