Fonterra lifts milk price forecasts, cuts dividends on price-rise squeeze; FSF units drop

Tue, 22 May 2018

(Updates shares in the fourth paragraph) By Jonathan Underhill May 23 (BusinessDesk) - Fonterra Cooperative Group raised its forecast farmgate milk price for the 2018 and 2019 seasons while cutting its projected dividends for 2018, saying rising global dairy prices are squeezing margins. The Auckland-based company raised its forecast milk price for the current season by 20 cents to $6.75 per kilogram of milk solids and gave an opening price forecast for 2019 of $7/kgMS, saying global demand for dairy products "is expected to remain str...

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