Fonterra trims forecast farmgate payout range

Fonterra chief executive Miles Hurrell said the change reflected a number of factors. (Image: Unsplash)

Fri, 26 Aug 2022

Fonterra has trimmed 25 cents per kilogram of milk solids from its forecast farmgate milk price following the recent downward trend in global dairy prices.The dairy processor revised its forecast for the 2023 season to between $8.50/kgMS and $10.00/kgMS, down from a range of $8.75/kgMS to $10.25/kgMS.That reduces the midpoint to $9.25/kgMS from $9.50/kgMS. However, Fonterra said its current advance payment rate of $5.70/kgMS is unchanged.Last week's Global Dairy Trade auction showed dairy prices fell 2.9% across the board. That included who...

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