Fonterra likely to cut forecast payout to farmer shareholders on Thursday

Tue, 04 Dec 2018

By Rebecca Howard Dec. 4 (BusinessDesk) - Fonterra Cooperative Group is expected to cut its forecast payout to farmers when it publishes first-quarter results on Thursday. Record production in New Zealand and weak global dairy prices are seen weighing on the cooperative, which currently predicts a payment of $6.25-to-$6.50 per kilogram of milk solids for the 2019 season, down from a previous forecast of $6.75/kgMS and the $7/kgMS opening prediction in May. Fonterra paid $6.69/kgMS in the 2018 season. Global dairy prices are down aroun...

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