Fonterra cuts forecast milk payout to $4.15/kgMS for current season

Wed, 27 Jan 2016

By Tina Morrison Jan. 28 (BusinessDesk) - Fonterra Cooperative Group cut its forecast milk payout for this season as global milk supplies continue to outweigh demand, pushing out the timeframe for prices to recover for New Zealand's largest export commodity. The dairy cooperative, the country's largest business, cut its forecast for the 2015/16 season to $4.15 per kilogram of milk solids, from a previous estimate of $4.60/kgMS. That's in line with last week's BusinessDesk survey of agricultural economists and dairy market analysts, which...

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