Fonterra not seen meeting its payout forecast despite latest GDT gain

Wed, 02 Dec 2015

By Tina Morrison Dec. 2 (BusinessDesk) - Most forecasts for Fonterra Cooperative Group's payout to New Zealand farmers this season remain below the company's estimate even after prices advanced at the GlobalDairyTrade auction overnight, suggesting analysts expect a cut to its forecast. Average dairy prices rose 3.6 percent to US$2,419 a tonne at last night's fortnightly auction, while whole milk powder prices increased 5.3 percent to US$2,260 a tonne. Prices are still short of the US$3,000 a tonne for whole milk powder that Fonterra has...

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