Fonterra cuts production forecast for second time in two weeks

Thu, 14 Mar 2019

By Rebecca Howard March 15 (BusinessDesk) - Fonterra Cooperative Group lowered its milk collection forecast for the current season for the second time in two weeks. It now expects to collect 1,510 million kilograms of milk solids for the season through May 31 due to ongoing dry weather in New Zealand, it said. On Feb. 28 it scaled back its milk collection forecast by 20 million kg to 1,530 million/kgMS. Milk collection was 1,505 million/kgMS last season. "It is a reflection of how quickly the weather changes," said Bank of New Zeal...

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