Fonterra lifts forecast milk payout

(Image: Getty)

Mon, 09 Oct 2023

Fonterra has raised its forecast farmgate milk price on what it says is an improved outlook.The dairy co-op is now forecasting a payout of between $6.50 and $8 per kilogram of milk solids with a new midpoint of $7.25/kgMS – an increase of 50 cents.It’s the first increase of the dairy season and comes after Fonterra made two big cuts early in the season as whole milk powder prices slid.After several declines, prices at the fortnightly Global Dairy Trade (GDT) auction have increased at three consecutive events.'Cautious'Most r...

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