Fonterra slashes farmgate milk forecast to $4.70 per kg/MS

Tue, 09 Dec 2014

By Fiona Rotherham Dec. 10 (BusinessDesk) - Fonterra Cooperative Group has slashed its forecast farmgate milk price for the 2014/2015 season to $4.70 per kilogram of milk solids from $5.30 per kgMS, due to global dairy trade prices falling to their lowest levels since 2009. When combined with the previously announced estimated dividend range of 25-35 cents per share, this amounts to a forecast cash payout of $4.95 – $5.05 for the current season, Fonterra said in a statement. The Fonterra board met yesterday with the widespread speculation...

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