Fonterra reduces forecast milk price – again

(Image: Fonterra)

Mon, 03 Apr 2023

Fonterra has again reduced its forecast farmgate milk price for the current season as global demand for dairy products softens.The co-op revised its forecast range from $8.20 – $8.80 per kilogram of milk solids, to $8.00 – $8.60 per kgMS.That reduces the midpoint range by 20 cents from $8.50 to $8.30 per kgMS.Fonterra has reduced its forecast at least three times this season and the latest move comes after Global Dairy Trade (GDT) index fell 2.6% two weeks ago.DairyNZ is forecasting that the cost of production will hit $9 per kgMS a...

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