Fonterra tipped to lift milk price forecast on 'balanced' global dairy markets

Tue, 20 Mar 2018

By Rebecca Howard March 20 (BusinessDesk) - Nathan Penny, senior rural economist at ASB Bank, expects Fonterra Cooperative Group to lift its 2017/18 milk price forecast to $6.50/kg or above from the $6.40/kg set back in December when it reports its first-half results tomorrow. Penny notes that the informal market median expectation is for $6.45/kg but “dairy prices have strengthened considerably since the December update” with whole milk powder prices up by around 16 percent since the December update, while overall prices have lifted arou...

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