Fonterra lifts forecast milk price 50 cents to $4.75/kgMS

Wed, 24 Aug 2016

By Paul McBeth Aug. 25 (BusinessDesk) - Fonterra Cooperative Group has raised its forecast payout to farmers by 50 cents as global dairy prices have started improving from what it describes as "unrealistically low levels". The Auckland-based company forecasts it will pay $4.75 per kilogram of milk solids in the 2017 season, up from a previous forecast of $4.25, it said in a statement. Combined with the forecast 50-to-60 cents of earnings per share, the total payout before retentions is expected to be between $5.25 and $5.35. Chairman Joh...

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