Fonterra likely to reduce 2015/16 milk payout after weak start to 2016

Wed, 20 Jan 2016

By Tina Morrison Jan. 20 (BusinessDesk) - Fonterra Cooperative Group is widely expected to cut its forecast milk payout for this season after prices dipped at a second successive GlobalDairyTrade auction this month. The GDT price index fell 1.4 percent at last night's auction, following a 1.6 percent decline at the previous fortnightly auction. The average price for whole milk powder slid 0.5 percent to US$2,188 a tonne, still short of the US$3,000 a tonne for whole milk powder that Fonterra has said is needed to support its current forec...

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