Fonterra faces 'substantial' drop in milk production before seasonal peak as farmers adjust to low prices

Fri, 16 Oct 2015

By Tina Morrison Oct. 16 (BusinessDesk) - Fonterra Cooperative Group's milk production has dropped heading into the seasonal peak as suppliers to New Zealand's largest commodity exporter respond to low dairy prices by winding back their output. Fonterra's milk intake for September, when production typically ramps up ahead of the peak in mid-October, was 8.7 percent below the year-earlier month, the Auckland-based cooperative said in a statement. Its intake for the season to date, from June through September, was down 5.3 percent from a ye...

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