Fonterra's dip in June milk collection not as big as previously thought

Thu, 21 Jul 2016

By Paul McBeth July 22 (BusinessDesk) - Fonterra Cooperative Group says the decline in milk collection last month wasn't as big as previously thought because the extra day of a leap year mucked up its modelling. The Auckland-based cooperative collected 9.9 million kilograms of milk solids in June, but revised down the year-earlier June collection to 10 million kgMS, meaning the monthly decline was only 1.4 percent and not the 10 percent drop it reported earlier this month. "This error was caused by a modelling inaccuracy resulting fr...

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